Banks blocking accounts related with crypto

[linkybit]

Banks can't close accounts without a good reason.

[airdrophunter]

I don't understand exactly why banks are blocking these accounts that are linked to cryptos. Do they hate cryptos because more of their clients are withdrawing money from their vault and invest it on cryptos? but how about those banks that backed Ripple (XRP) in their payments, exchanges and remittance, and other cross-border transactions? Do they have plans of blocking these accounts too?

[happyme1818]

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

It's already begun, those who have accounts that is related to cryptocurency are banned by some major banks across the globe. In the US there is a case where the bank force to close his account if he didn't tell where he get his income. In Europe there are many cases too. Even in Asia where you cannot open new account if your income came from cryptocurrency. They also force close the accounts that has a history of cryptocurrency related transactions. Same scenario in the continent of Africa.

[okissabam]

I’ve read topics about this but I really didn’t mind it that much. Was thinking why would they block accounts related with cryptos in the first place when they actually could benefit a lot from it. Imagine people putting money in their banks because of these crptocurrencies they are earning from. Or probably they hate it that much because it is decentralized for now and can’t control it.

[Alex Khvatov]

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

Banks in some countries will be more conservative, that is true. But I think that there will not be some outright war between banks and crypto, since the smart banks will know that they will have to adapt in order to survive.

[semobo]

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

In my country nothing happens like that and crypto tradind is not a illegal business then why they are blocking the bank accounts.And they cannot do like this until we pay the taxes for bitcoin earnings to the government.If they do like that the you can file cases in the court because you are not doing anything illegal.

[benmartin613]

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

There are some banks blocking peoples account when they are connected to crypto currency, because crypto currency is not regulated and they think that the money they deposit are from fraud or made via under ground deal like guns and drugs.

[dvillier]

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

In my country nothing happens like that and crypto tradind is not a illegal business then why they are blocking the bank accounts.And they cannot do like this until we pay the taxes for bitcoin earnings to the government.If they do like that the you can file cases in the court because you are not doing anything illegal.

yea, I have never seen such news according to my countries people who are talking about banning bank accounts of those people who are using crypto because in my country there is no such law against bitcoin due to which people are using crypto currency freely and also no one know that which person is using crypto currency because crypto currency trading is unique then banking. 

[lobo13hf]

anyone heard about banks doing this in the EU?

I only even heard about the kraken, In my experience the kraken platform even had the problem with the bankers, Because the crypto still can be considered as illegal thing and the bank can frozen the fund that linked to the crypto transaction.

[sirkings0003]

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

I was told that same thing is beginning to happen in Nigeria. But this will only complicate issues for them. Apart from legal battles the banks will subject to themselves, the cryptocurrency investors will always find alternative ways of dealing.

[erikalui]

I don't know what's the state of banks in my country but I felt suspicious when Coinsecure's Yes Bank account was permanently disabled and it looked like they had some issues (whether or not because of crypto) but the Government already charges 20-30% taxes. What more they want now?

[macchiato]

Fortunately, heard nothing about this in my country. The last news I know is that the government in my country is trying to consider the use of digital currencies and finding good applications of it. Hopefully, this will be fixed and will be stopped before spreading throughout different countries.

[kuronokishi10]

I guess this is just happening with most of the banks in Australia.
I live in India and here we have application like zebpay and unovoin from where we link our bank account and all my profit has been due to rise of btc.
But I did not receive any warnings or news from the bank like you are saying.

[krisnajsadrak]

Banks can't close accounts without a good reason.

but as centralized system, i think bank can do anything to anybody,, because the bank have full control on it,,
this is why the bank didn't like decentralized system,,

[Cryptoguru274]

 Blocking of accounts related to crypto is a very wrong development because it will not help the global economy. The inflow of funds to the banks helps the banks to survive so that let banks accepts the money flow from the crypto world and forget about the unhealthy rivalry.

[ELOCIN]

If this thing really happened then i can say that banks really feels bad about the crypto currency. We both do not know the yet for now, but I am hopeful that this is not a serious isue.

[Kingofbitcoin12345]

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

Have heard of it for many months ago,, even creating one account for storing money from crypto trading will not permit you to apply one.. It happen not because cryptocurrency is risky but the banking officials who handle the financial system in most countries are greedy.. Then it is the ultimate proof that bankers is not for the people/clients but for money from big investors who hate bitcoin so much..

[penig]

For those that have heard of individual stories of blocked accounts, do you also hear of wholesale blocking?  i.e. all accounts blocked by a specific bank (so its there policy) or country (so local legislation)?  If not, we should conclude this is individual incidence likely due to transactions deemed as suspicious.  If you suddenly pull $10k from a foreign source, bank might be suspicious.

[timikulit]

In my country, Bangko Sentral ng Pilipinas "BSP" (Philippines) supports crypto currency. However a local BANK here named BDO (Banco De Oro) forcefully closed one bank account because of transactions related to crypto. The account owner reported the BANK branch to BSP. In the end the account was released and unblocked.  . im so lucky i live here.

[kier010]

yeah i heard it too bank closed accounts related to crypto and also they would not let you open a bank account if your source of income is related to cryptocurrencies.