[2017-03-17] Santander UK Terminates Bank Accounts of Bitcoin Exchange Bittylici

[Kemarit]

Santander UK Terminates Bank Accounts of Bitcoin Exchange Bittylicious’ Users

Bitcoin exchange Bittylicious has received notice from U.K. bank Santander stating that it will be terminating bank accounts of users transacting with the exchange; however, it fails to explain the reasons for doing so.

Bittylicious took to Twitter to break the news saying:

@Santanderuk are now closing down accounts of anyone that sends to #BTC exchanges. The anti-competitive UK banking system must be broken up.


According to a letter from Santander, it said:

Under the terms and conditions of the account we can withdraw banking facilities by giving you notice in writing and, in line with our company policy, we don’t give further information about how we’ve made our decision.


It adds that users have two months to find ‘alternative banking services.’

Full Read Here: https://www.cryptocoinsnews.com/santander-uk-suspends-bank-accounts-of-bitcoin-exchange-bittylicious-users/

[Iranus]

It's very strange of them to decide to block this one specific exchange.  There are several other exchanges which people could use but it's clear that if a banking service is this blatantly trying to crush their opposition all the Bitcoin users will use another bank even if it doesn't directly concern them for the concerns of the whole community and because of the blatantly authoritarian nature of this bank.

[Bitware]

The entire world fiat financial system fears Bitcoin because it represents the end of their hegemony. At first they ignored it. Then they laughed at it. Now they are fighting it.

[IconFirm]

More BS reporting by cryptocoinsnews:

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Although, UK banks do shut BTC users accounts quite often - Barclays & Santander being the worst culprits.

[lukew]

Santander are a crock of shite anyway, this news being true or not

[IconFirm]

Santander are a crock of shite anyway, this news being true or not

Indeed they are.