Bank Threatens To Close Accounts Of Bitcoin Buyers

[rb26]

Today Jordan Spencer, a client of Lakestone Bank & Trust, said on his Facebook account that the bank sent him a letter, informing that purchases and receiving funds from Coinbase.com is against Lakestone’s policy and the bank will close Jordan’s account if transactions continue.

Read more: https://hype.codes/bank-threatens-close-accounts-bitcoin-buyers

Have you left a feedback?

At least they sent him a letter before taking any actions. Some banks will just terminate an account without even sending any notice and explanation for the termination of their accounts. But that policy of Lakestone could hurt their market as more people are somehow connected to btc. I bet most of their clients who are transacting in btc will move on to another btc friendly banks as soon as they received those letters.

[Kprawn]

What must happen is the following :

Some of the richest Bitcoiners or Crypto millionaires should open a Bank for Bitcoiners and give these people some

competition. There are millions of Bitcoiners out there and they should have their own Banks. I would move all my business

to a Bank that supports Bitcoin. 

[tyuner4]

This is very bad, I will just close my bank account and move on to another bank. Thanks for the information, I will avoid this bank at all costs.

[rezius]

Everyone leave them a bad review. I'm not against banks but I am against banks trying to me a monopoly. That's one of the points Bitcoin is trying to solve. This bank is trying to act as a monopoly and should be exterminated.

[Jerusareth]

Why this Banks always threatens Bitcoin only? there is a thousand of other cryptocurrency out there, I think they are just hiding something behind their coats because they have a plan to penetrate the cryptocurrency itself in the future or they have already chosen a specific crypto coin to support.

[audrey12]

The banks actually starting to look over bitcoin but before they even accept transactions like converting bitcoin into their national currency and deposited to the account of their client but since the value of bitcoin grow so fast banks become threaten of its capabilities to kill banking institutions also another point is that some countries start to legalized bitcoin and if this happen around the world with the technology of bitcoin banks are no longer needed.

[Harlot]

The problem here is that what they are transacting now is Fiat Currency and is most likely legal. There is no sense behind making your bank account be terminated because your Fuat Currency came from Bitcoin or its transaction originally. It is like prohibiting both the business and the person to have their normal transaction. Luckily they are loopholes in their problem where they can operate from another bank to their affected bank.

[btcprospecter]

There will always be another bank that you can use instead as a customer you are not doing anything wrong buying bitcoin if they don't want you doing that take your fiat somewhere else.

[The_prodigy]

Today Jordan Spencer, a client of Lakestone Bank & Trust, said on his Facebook account that the bank sent him a letter, informing that purchases and receiving funds from Coinbase.com is against Lakestone’s policy and the bank will close Jordan’s account if transactions continue.

Read more: https://hype.codes/bank-threatens-close-accounts-bitcoin-buyers

Have you left a feedback?

In my cohntry as well news have started circularing that banks under the order of he government that there has been an order to close accounts of jokders wherein bitcoin transaction was used or stored in it which hs caused panic and fear to some crypto users

[icanscript]

The war between bankers and the cryptomir has only just begun. In 2018, we will see fierce fights on the money market.
Closure of accounts, only a small and ridiculous step made by the bank.

[bitfocus]

That's really sad but a lot of governments and banks are doing such things to Bitcoin users, he should switch to a more BTC friendly bank asap.

[XaurumGamma]

They will lose costumers... money will shift to diferent places... dumb idea by banks.

[XaurumGamma]

Bank are dinosaures. Old and greedy never-have-enough people...

[Carmen01]

In some i think yes but in our country no because bank and crypto help each other to our economy here,actually some work here in our country are more on crypto and it help the economy that's why it continue to grow and it's spread day by day here.I say the bank and crypto have a lot of people that works like in our country called coins.ph it's a wallet that need to monitor day by day so it's a job and it's a bank and a btc wallet also.

[Mometaskers]

What must happen is the following :

Some of the richest Bitcoiners or Crypto millionaires should open a Bank for Bitcoiners and give these people some

competition. There are millions of Bitcoiners out there and they should have their own Banks. I would move all my business

to a Bank that supports Bitcoin. 

I suppose these would look like some exchanges that require ID photos and government documents. Definitely would not be anonymous but people in need of loans would accept any good deal they can find. That would be the only use of these "bitcoin banks" anyway since bitcoins allow us to keep our money on our own.

I don't know how they'll do it but more competition is definitely better. Give these bankers a run for their (well not actually their ) money. 110% support.