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[pinggoki]

With them admitting that crypto harms their interests which is the current financial system, I think that it's safe to say that they're afraid of cryptocurrency. Plus, it's also preposterous for them to say that cryptocurrency is used for fraudulent activities when in reality it's not the case because it's probably easier to trace someone when it's online especially with more tech firms finding ways to track crypto criminals, I don't think that fraudulent activities would last very long.

[jrrsparkles]

Ofcourse, they are. Banks are the middlemen for every transactions happening in this world either in some way but what is the main motto of crypto currencies which is to eliminate the middlemen so called trusted third party.

We can add more into the list about the central bank of countries where cryptos are banned officially but the reasons they are saying is different from what is the actual reason which is bankers are afraid that how they can print money anymore if cryptos are adopted worldwide? How they can make money out of thin air?

[hyudien]

We just need to underline everything with one word "BANK". because the root of everything lies in how Russia, England, or any other country tries to attack crypto with news, none other than just because crypto gives financial access to its holders to more freely control what is their financial right without giving any amount of value to anyone. The bank wants you to pay taxes on the proceeds, the bank wants to receive the income you make, the bank wants to control how much you have to limit and how much tax you have to pay them.

[Vaskiy]

Ofcourse, they are. Banks are the middlemen for every transactions happening in this world either in some way but what is the main motto of crypto currencies which is to eliminate the middlemen so called trusted third party.

We can add more into the list about the central bank of countries where cryptos are banned officially but the reasons they are saying is different from what is the actual reason which is bankers are afraid that how they can print money anymore if cryptos are adopted worldwide? How they can make money out of thin air?

Surely the banking industry will have fear about the adoption of bitcoin, because the central reserves can't print money and make money out of thin air. However people won't think of the technical things, but takes in account the real-time usage. As of now we haven't got big access around the globe. So, surely cryptocurrency will coexist than functioning independent.

[fiulpro]

Why would they be ?
They would not only be loosing investors, but customers as well. Banks are an important part of the society but their dominance is nearly toxic and too controlling for the people therefore they are trying to look for other options and cryptocurrencies are perfect!
Many banks are also controlled by governmental bodies which does mean that they are in a danger of taking their power over the people, the current system of money printing is essentially a probelm since this is putting a lot of risk out there for people, people are scared of keeping their Investments in the banks, who knows when the government can put out laws that might be bad for the middle class.
Banks rather should work on making the whole adoption of cryptocurrencies better by integrating with them which can make their cash inflow and outflow stronger, indirectly making them more stable.

[so98nn]

The crypto adoption is way futuristic for now and it is good thing because it’s adoption is going to be gradual and immediate. This is similar to accepting fiat money in the form of coins, papers and digital money today and how it all got accepted after gold. So there was no hesitation in doing that from gold to fiat so why would it be so difficult with the crypto anyways?

We need new ways because we need it according to how it changing for humans the way we moving forward.

I think both banking and crypto currencies will keep backs of each other in the future. Because no matter what, there will always be population who will want to have fiat and others will choose crypto currencies.

For now obviously banks do not know what exactly to be done with all the crypto currency jumbled around their neck. But eventually there has to be a way where they will need to come to an agreement on using both the assets side by side.

[ShowOff]

On many occasions I think we have seen that banks publicly stating that they will not support crypto adoption will only make them worry about the emerging economic problems. Obviously they look scared, but going forward we really don't know how this rule can be softened.

Banks have personal reasons why adoption is impossible and one of them may be because of their desire to own a fully centralized cryptocurrency. The adoption of crypto, especially bitcoin, will only make them lose their income in the form of investing in customer funds that they have been using, people prefer bitcoin which is very easy to make transaction and many other things.

[Congyang]

A modern system with futuristic technological sophistication will certainly beat the old system which is traditional.
Reflecting on the initial system when it was still in primitive times, which still used the barter system for trading, technological sophistication and an increasingly advanced human mindset had changed this by creating currency as a legal tender.
it doesn't stop there when the currency is too complicated for large amounts, they again make new progress, namely creating fiat which can indeed make shopping easier because we don't need to carry large amounts of money in a suitcase or bag to shop, just with one card, everything can be done. resolved.
and now of course there is something more up-to-date than that, namely cryptocurrency.
With the existence of cryptocurrency, of course, when we want to transact, we don't need an intermediary to do this. So, why use an intermediary again when it has been created that is easy without intermediaries.
For the government, this may be a threat, but for society it is evidence of technological sophistication that is increasingly developing, and of course we must keep pace with and follow the developments of this era.
the more they reject crypto, the more adoption happens

[paxmao]

I think central banks are mostly concerned with people being scammed rather than with the crypto being a competition or substitute system. It is very clear that bitcoin does not really work as a substitute of local currencies, but rather like gold or other assets, so there is no fear on that. however, everyone that has been around for a while understands that possible the greatest risk in crypto is falling into a scam and the governments cannot allow people to loose their saving to scams and then having to subsidize their retirements.

[Hamphser]

I think central banks are mostly concerned with people being scammed rather than with the crypto being a competition or substitute system. It is very clear that bitcoin does not really work as a substitute of local currencies, but rather like gold or other assets, so there is no fear on that. however, everyone that has been around for a while understands that possible the greatest risk in crypto is falling into a scam and the governments cannot allow people to loose their saving to scams and then having to subsidize their retirements.

Would say up the same thing even banks on my countries never stopped on making out warnings and cautions about crypto investment which I could say

that they aren't really that mindful about cryptos existence even though they are highly regulated but they wouldn't care if crypto does exist.

If whats the government stance about crypto on that particular country then they would definitely be just simply following that.

[Argoo]

With them admitting that crypto harms their interests which is the current financial system, I think that it's safe to say that they're afraid of cryptocurrency. Plus, it's also preposterous for them to say that cryptocurrency is used for fraudulent activities when in reality it's not the case because it's probably easier to trace someone when it's online especially with more tech firms finding ways to track crypto criminals, I don't think that fraudulent activities would last very long.

Yes, in general, you still need to admit that both banks and states in general are not happy with the rapid spread of cryptocurrency around the world. The fact that people are increasingly investing their capital in cryptocurrency means that banks, banks, do not receive this capital. Therefore, it is unambiguous that cryptocurrency is a competitor to fiat money of states and states, over time, will try to restrict its circulation by their regulation.

[arallmuus]

For example, the Russian central bank is constantly trying to expose bitcoin and other cryptocurrencies only in a negative way. Say, with the help of cryptocurrencies,  often commit fraudulent actions, theft and extortion, the purchase of drugs and weapons on the darknet.  Cryptocurrency is not backed by anything, it does not have a guarantor in the person of the central bank, there is no regulatory body, and any financial instruments built on cryptocurrencies lead to the loss of funds by investors.

Classic. Banks have been saying the same thing for the last 5 years, ever since the last bullrun in 2017 banks are aware of cryptocurrencies and has always been saying classic stuff like this

The Bank of England states that the crypto industry and its risks can pose a threat to the financial system

Its about time that they are acknowledging this

What are your thoughts on all this? Do banks really openly admit that they are afraid of further crypto adoption?

Its more like they sense that there will be potential threat to the current finance system but not to the point that they are openly admitting that the future lies with cryptocurrency so unless there are more countries adopt bitcoin as their legal tender then I dont think most banks are going to acknowledge this as a major problem

[Sterbens]

The Bank of England states that the crypto industry and its risks can pose a threat to the financial system:

The Bank of England has warned that the cryptocurrency industry—and its risks—may be a danger to the established financial system in time, per the BBC.

Moreover, these risks will grow along with the continued growth of crypto adoption:

Sir Cunliffe also said that this risk will grow if and when the crypto industry becomes more widely adopted.

And what should be done to prevent this risk from continuing to grow?

“We really need to roll our sleeves up and get on with it, so that by the time this becomes a much bigger issue, we’ve actually got the regulatory framework to contain the risks,” he also said.

Essentially, Sir Cunliffe is saying that we need to start holding back crypto adoption so that the financial system does not suffer (read, the interests of banks). More and more people every year prefer to keep funds or invest in cryptocurrencies. The interest in bank deposits is diminishing, as is keeping funds in banks. Because who is interested in keeping funds in a currency that is constantly depreciating? Personally, in my country, the annual interest on deposits does not compensate for that inflation, its growth is simply enormous. I think many countries from the link that I gave above are also trying to solve the issues of inflation and hyper inflation with the help of cryptocurrencies.

I just listened to what they had to say about the crypto industry and the risks it could pose a major threat to the financial system. Isn't it the other way around? Based on the risk, all investment sectors have the same risk. The excuses uttered were simply fear, and it has become the habit of those who for years have spoken of the grave dangers of adopting Bitcoin and other cryptocurrencies.

So far, the one who is in big trouble is the dollar. Are banks missing out on the problems that result from not having a profitable store of value? If only Bitcoin during the pandemic was noticed, maybe after that they wouldn't be too busy with inflation. I will not stand idly by and assume CBDC is the choice. It cannot be held freely like the cryptocurrencies we have today.

[Gyfts]

I think central banks are mostly concerned with people being scammed rather than with the crypto being a competition or substitute system. It is very clear that bitcoin does not really work as a substitute of local currencies, but rather like gold or other assets, so there is no fear on that. however, everyone that has been around for a while understands that possible the greatest risk in crypto is falling into a scam and the governments cannot allow people to loose their saving to scams and then having to subsidize their retirements.

Since when did central banks care about their consumer base? If they were that virtuous, I would expect them to exercise a slight bit of financial responsibility ever now and then, but they seem immune from that. Traditional currencies are the biggest scam there is -- built in inflation rate and uncontrolled printing ensures that the value of one's funds decreases year over year.

Theoretically, you could switch to a crypto based system and anyone concerned that they wouldn't be able to handle their own private keys safely could always revert to an exchange to hold funds for them (which is essentially the modern day banking system anyways, you entrust the bank to hold all of your funds).

[KingsDen]

Banks have just realised lately that they cannot stop cryptocurrencies.  What they are doing is just mitigating its adoption in order to buy more time to propagate thier CBDC.
One good thing about crypto is even the individuals that are championing the fight against crypto as Bank reps or government may have funds in crypto.
The undying technology of crypto is just superb.
Let's sit and watch as the battle unfolds.
Crypto does not fight back but keeps propagating.

[The Sceptical Chymist]

More and more people every year prefer to keep funds or invest in cryptocurrencies. The interest in bank deposits is diminishing, as is keeping funds in banks.

Have you got any hard data on that claim?  I'm pretty sure interest in crypto has grown and continues to grow, but I just don't think people are choosing crypto over fiat if you know what I mean.  They're using crypto to speculate or invest in rather than using it as a substitute for their bank cards/cash/fiat/etc.  And if you look at all the threads on this forum, there are very few that talk about places where you can spend bitcoin or altcoins--everything is about prices and speculation.

I'm also not sure that people are abandoning banks at all.  Most people are still tied to the banking system in one way or another, and it's very hard for most people to see that there's even a problem with the system, much less look for an alternative to it.

Because who is interested in keeping funds in a currency that is constantly depreciating?

Not many, but that doesn't mean crypto is the only alternative.  Many people invest in stocks, metals, real estate, and other things instead of holding cash.

[Darker45]

Afraid? Not necessarily. Well, maybe some, but I guess there a handful reasons why certain banks show strong disapproval of crypto. Perhaps many of these banks have yet to really explore the basics of crypto and its potential. Or perhaps the highly unregulated characteristic of crypto truly bothers them. Or since banks, being financial institutions, are rather stringent, they seem to have a distaste of the anarchist, irreversible, pseudo-anonymous nature of crypto. But, make no mistake, many of them are already joining the community.

[Anonylz]

Since with the adoption of crypto there is no room for a middleman, they don't like that idea so they will not accept it so easily but I don't think they are afraid, crypto gives freedom and anonymous which is the total opposite of banks, don't expect a friendly approach from them, they will always try to paint a negative picture before the public but only those who are determined regardless of what is published can discover the true nature of crypto and its benefits.
Besides, the vast majority still use the banks so I don't see what they should be scared of.

[Rruchi man]

Someone thinks that the introduction of CBDC will help the development of the crypto industry. Personally, I believe that CBDC will only stick a stick in the wheels of real cryptocurrencies, because they have different purposes.

CBDC introduction will bring comparison between it and real crypto itself, people who have formely not known about crypto will as a result of the comparison get to know about it, in the end, i still see a win for cryptocurrency.

What are your thoughts on all this?

We've always known that the banks make use of customers deposit to trade the foreign exchange market, crypto adoption poses a big risk to that, there is also the issue of tax to consider, individuals can hide their assets in crypto to evade taxation that may come from keeping in the banks, this leads to reduced revenue for the government. Although presently in some countries, new methods are being devised to track financial records in crypto to ensure the inflow of tax to the government, it has not been fully implemented in other countries of the world where crypto is used or not considered illegal.

[KingsDen]

I'm also not sure that people are abandoning banks at all.  Most people are still tied to the banking system in one way or another, and it's very hard for most people to see that there's even a problem with the system, much less look for an alternative to it.

From observations, people are not abandoning banks at all. And there is no how majority of people will abandone the banks(government). What I think will happen is that crypto will become formidable and government will have no other option than to allow banks and crypto augment each other.
Below are my reasons I said people are not abandoning banks;
Before now, two group of people are identified with the banks:
Namely;
1. The Rich
2. The Poor.
I have to add another category of people;
3. The crypto people.

I want to explain how and why these sets of people approach the banks and the reason their marriage is not terminating untimely.

1. The Rich:
The Rich visits the bank mainly to take loan. I mean huge and frightening loan. This loan is the money of the poor people deposited in the bank. So, a smart rich man cannot make bank who enriches him the more his enemy.
2. The Poor:
The poor sees his money as his greatest treasure and will do anything to safeguard same. He believes the only person that can give him that security is the bank. Yes, if anything goes wrong, the government will reimburse or recompense him. This set of people doesn't care if there is any value attached to the fiat that is depreciating.
3. The crypto people:
These are the set of people that are privileged to know about crypto. Among them are people who earns in crypto and convert same to fiat.
Also are people who has no money in banks but still holds fiat debit cards. When fiat is needed, they will convert from one coin to fiat.
Among the three categories, no one is able to do without the banks.

I don't see banks bowing for crypto. But I see a coexistence if the government realises that they cannot win the battle against crypto.

[syedakhlaque]

The banks are not afraid of bitcoin but they are seeking the proper legal framework that can apply to run their business. They are seeking a secure system free from all kinds of complications. Some banks have already done this and some seeking a good working relationship with bitcoin. Master cards and ATMs are also being used to cash cryptocurrency.

[ultrloa]

We cannot say yes on this since Union bank is crypto friendly bank which I know far, Maybe others didn't adopt yet on technology or didn't want to risk something since they are avoiding the money laundering events happening since crypto is somehow used by criminals to transact their dirty money. So I guess once this out look towards crypto will be erased and will replaced by its usage then maybe we can see more bank like what Union bank to became a crypto friendly also.

[DU18]

Afraid? Not necessarily. Well, maybe some, but I guess there a handful reasons why certain banks show strong disapproval of crypto. Perhaps many of these banks have yet to really explore the basics of crypto and its potential. Or perhaps the highly unregulated characteristic of crypto truly bothers them. Or since banks, being financial institutions, are rather stringent, they seem to have a distaste of the anarchist, irreversible, pseudo-anonymous nature of crypto. But, make no mistake, many of them are already joining the community.

In fact, banks might be better off adopting blockchain in their performance, but the obstacles to regulation from the government have caused some banks to choose to be anti-bitcoin all this time, besides that I think the implementation of blockchain will certainly make bank owners or investors certainly get a little profit from the income earned by the bank, because we know so far the cost of each transaction that occurs on the blockchain is very fast and also at a low cost, and this is very different from what has happened to conventional banks so far.

[davis196]

I don't get the point of asking such rhetorical question.
Of course that the bankers are afraid of the cryptocurrency expansion.
By the way,you have to distinguish the central banks(ruled by the government) from the ordinary banks.
The central banks were created to protect the fiat system.They will do everything possible to smash every alternative to fiat money,even by creating digital fiat (like the CBDCs) also known as "fake crypto".
The ordinary banks simply want more customers.If crypto adoption could bring them new customers,they would adopt crypto right away.The problem is that the central banks won't allow any bank to adopt cryptocurrency payments and investments.

[Xampeuu]

Afraid? Not necessarily. Well, maybe some, but I guess there a handful reasons why certain banks show strong disapproval of crypto. Perhaps many of these banks have yet to really explore the basics of crypto and its potential. Or perhaps the highly unregulated characteristic of crypto truly bothers them. Or since banks, being financial institutions, are rather stringent, they seem to have a distaste of the anarchist, irreversible, pseudo-anonymous nature of crypto. But, make no mistake, many of them are already joining the community.

In fact, banks might be better off adopting blockchain in their performance, but the obstacles to regulation from the government have caused some banks to choose to be anti-bitcoin all this time, besides that I think the implementation of blockchain will certainly make bank owners or investors certainly get a little profit from the income earned by the bank, because we know so far the cost of each transaction that occurs on the blockchain is very fast and also at a low cost, and this is very different from what has happened to conventional banks so far.

the main thing is the key holder is the government, I don't think banks can do it alone even though the blockchain system has advantages in terms of transactions. if blockchain alone cannot be accepted by the government, let alone bitcoin which will make it a single currency throughout the world

[michellee]

The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.

[hyudien]

Banks have personal reasons why adoption is impossible and one of them may be because of their desire to own a fully centralized cryptocurrency. The adoption of crypto, especially bitcoin, will only make them lose their income in the form of investing in customer funds that they have been using, people prefer bitcoin which is very easy to make transaction and many other things.

Sounds like a financial hero who wants to save customers from the temptation to profit from crypto, but can customers resist the temptation of cryptocurrencies? besides the risk that it cannot guarantee 100% security, crypto traders will not stop before trying it to eliminate curiosity. Only then can they judge which ones are good for their finances and which ones are bad for their future.

[oHnK]

The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.

Yes, after all, the bank's orientation is business and profit.  If Crypto is legalized for the public, the Bank's position can be as an intermediary for Crypto against Fiat while Crypto will actually have difficulty in approval as a legal medium of exchange because stability in Crypto is difficult to obtain but it can be an investment asset and this is a business opportunity.

[RealMalatesta]

But how do you counter the fuds that's been published in various media? Market manipulation, rug pull, scam, and exploits became very common in crypto and media made big coverage about this news. Those people who don't know much about crypto will be afraid to invest in crypto by concerning about their investment security. People still have negative sentiments about crypto and they want a guarantee before risking their money. So there are still lots of places to improve before mass adoption.

Ignoring it? I mean surely there will be a lot of people who will not ignore it and sell but as long as you do, then you are going to be fine. I personally ignore all the FUD because I am a long term holder and I can do that, if you are a day trader or you do leverage trading then you are going to end up with not such a great return for it and it will be a big loss for you if you are on the wrong direction, whereas when you are a long term holder even if they drop the price with a huge FUD all going around the big media, then it will recover eventually and you will not feel it.

If I could wait during the 2017 to 2020 era where the price did not recover back to 20k, then I can wait out all those FUDs and other stuff they can throw at me in the future as well. Trust bitcoin and do not forget to keep buying more to profit bigger in the future.

[arallmuus]

I mean giving up the bank as a custodian of savings (deposit), as well as using the bank as a money transfer, for example.

The bolded part is probably not going to happen anytime soon though. Most people are bad in keeping their money save and banks always provide the 'illusion' that they will keep your money safe for you so people are probably not going to move away from this illusion. As for money transfer, as long as people still keeps their money in banks then people are still going to transfer their money through banks as well

[michellee]

The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.

Yes, after all, the bank's orientation is business and profit.  If Crypto is legalized for the public, the Bank's position can be as an intermediary for Crypto against Fiat while Crypto will actually have difficulty in approval as a legal medium of exchange because stability in Crypto is difficult to obtain but it can be an investment asset and this is a business opportunity.

Yes, I would like to see crypto and banks collaborate in the finances section and give a free choice to people whether they want to save their funds in the banks or the crypto forms. Maybe crypto does not need to be a legal tender but still uses fiat as a legal tender. People are free to convert their crypto into fiat and there are no complicated regulations from the government to abide by. It will give more chances to help people have better finances because people can invest in crypto forms.

[Hydrogen]

Crypto remains incapable of entering loan markets. There is zero penetration of student loan, home loan and car loan markets for cryptocurrencies. A trend which is likely to remain constant heading into the future. There is also not much cryptocurrency support for pensions, healthcare and other big dollar markets where banks and established financial institutions dominate.

There are definitely areas where crypto has advantages over banks. But can anyone imagine a scenario where student loans, home loans or car loans become crypto supported industries? Banks can have no fear of crypto seeping into those markets. Conflict between the two could be ideological. Banks favor centralization, crypto leans towards the opposite. Banks favor fractional reserve inflation. Crypto has enjoyed success with deflationary models.

It may be fair to say fear is an obstacle to progress and science. No one need fear cryptocurrencies, as they carry a potential to make life better for everyone, bankers included.

[arwin100]

The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.

Yes, after all, the bank's orientation is business and profit.  If Crypto is legalized for the public, the Bank's position can be as an intermediary for Crypto against Fiat while Crypto will actually have difficulty in approval as a legal medium of exchange because stability in Crypto is difficult to obtain but it can be an investment asset and this is a business opportunity.

Yes, I would like to see crypto and banks collaborate in the finances section and give a free choice to people whether they want to save their funds in the banks or the crypto forms. Maybe crypto does not need to be a legal tender but still uses fiat as a legal tender. People are free to convert their crypto into fiat and there are no complicated regulations from the government to abide by. It will give more chances to help people have better finances because people can invest in crypto forms.

If banks could only do it easily but certain regulation towards certain countries stop this that's why we can see it having difficulty to happen. But I believe in future we can see this to happen but we need first to see a major adoption and also many countries to make it as their legal tender but for now its hard knowing government is skeptical about this technology.

[dimox]

maybe, big percentage they afraid of this.
simple think is how great crypto can make bank drop, its not all people use crypto but they know if it lasts too long it will be bad for them. technology advance make people feel what easy is, and money will be good foundation for this things.

[Smitty Werben Man Jensen]

The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.

Yes, after all, the bank's orientation is business and profit.  If Crypto is legalized for the public, the Bank's position can be as an intermediary for Crypto against Fiat while Crypto will actually have difficulty in approval as a legal medium of exchange because stability in Crypto is difficult to obtain but it can be an investment asset and this is a business opportunity.

Yes, I would like to see crypto and banks collaborate in the finances section and give a free choice to people whether they want to save their funds in the banks or the crypto forms. Maybe crypto does not need to be a legal tender but still uses fiat as a legal tender. People are free to convert their crypto into fiat and there are no complicated regulations from the government to abide by. It will give more chances to help people have better finances because people can invest in crypto forms.

If banks could only do it easily but certain regulation towards certain countries stop this that's why we can see it having difficulty to happen. But I believe in future we can see this to happen but we need first to see a major adoption and also many countries to make it as their legal tender but for now its hard knowing government is skeptical about this technology.

Yeah if we talk about this in the near future I guess it's hard to make it happen,
even so, there is still a chance to adopt it, especially since we can see that crypto is experiencing good development every year,
so it should be usable and we'll see later

[el kaka22]

I would say that making the loans as legal as the banking industry would make it easy enough, right? I mean let's assume that I give you a loan of 5k dollars myself, and you take it, and you do not pay it back, what can I do from the other side of the world? I would probably have to go through a lot of legal red tape just to open a lawsuit to someone in another nation. All in all banks have paperworks and laws for them that keeps people paying or even if they do not at least banks seize their things.

This is why I keep saying that there is a good case to be made about this situation with crypto, if banks do the same with crypto, make you sign bunch of paper, then legally you have to pay or if you do not pay then they come to your house and take your stuff and all that, that makes sense right? I can't really say much different about it, that seems like the only way for crypto to be used in loans.

[Lanatsa]

maybe, big percentage they afraid of this.
simple think is how great crypto can make bank drop, its not all people use crypto but they know if it lasts too long it will be bad for them. technology advance make people feel what easy is, and money will be good foundation for this things.

Banks wont really be that afraid.Why? They do play up a big role on countries economy or in overall aspect which crypto couldnt able to do.We need centralized system which do functions up on a particular aspect.

They arent afraid and could rather accept or adopt it if government permits them.They are still really relying into governments decisions when it comes
to this one.

They could really be versatile all the time they do want it.

[adzino]

The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.

They are not waiting for the "governments" order. They just don't want to touch crypto currencies right now because of various complicated reasons. There are already few banks that has integrated crypto currencies and are in testing phase. More banks will eventually adopt crypto currencies as they are fully aware that these currencies are the future. They know if they don't accept crypto currencies, they will eventually lose their power. So embracing crypto currencies is inevitable. But do we actually want them to adopt crypto currencies? Because banks and decentralization isn't a good match. If banks take over crypto currencies, decentralization will somewhat be lost.

[Leonardo7]

My nation's diasporal remittance dropped by about 80% because the people suddenly discovered the banks are fleecing them and ths diasporal remmitance makes up part of my nation GDP so the apex bank governor is confused in a bid to trying to save his job, he makes too many mistakes with cryptocurrency traders track down. He has failed too. You can't stop a technological advancement.

[V-t.Ester]

Unfortunately all the indications are that banks don’t like crypto and don't want crypto adoption only if it's not CBDCs. They can’t control it and get commissions from transactions, from profit and from mining. Their expression of outrage makes sense as they lose money that must fill them. In El Salvador central bank immediately provided mobile app with obligatory KYC (to control crypto resources and people, who use them). China that seemed for me loyal to crypto, this year banned BTC mining and USA wants to do the same. What is this if not anxiety of banks that doesn’t get commissions and can’t have a total control among money their people use?

[michellee]

If banks could only do it easily but certain regulation towards certain countries stop this that's why we can see it having difficulty to happen. But I believe in future we can see this to happen but we need first to see a major adoption and also many countries to make it as their legal tender but for now its hard knowing government is skeptical about this technology.

That is why we hard to see the innovation from the banks related to crypto and they need the order from the government to start integrating crypto into their system. The major adoption will come soon. Maybe next year, we will see a big adoption everywhere, giving more opportunities for crypto to grow more. As long as the government can open their mind about the new thing, I think that can help crypto enter their finance system after the government sees some country's success implement or adopt crypto to their finances. It will attract the government to try learning.

They are not waiting for the "governments" order. They just don't want to touch crypto currencies right now because of various complicated reasons. There are already few banks that has integrated crypto currencies and are in testing phase. More banks will eventually adopt crypto currencies as they are fully aware that these currencies are the future. They know if they don't accept crypto currencies, they will eventually lose their power. So embracing crypto currencies is inevitable. But do we actually want them to adopt crypto currencies? Because banks and decentralization isn't a good match. If banks take over crypto currencies, decentralization will somewhat be lost.

But no matter what, the banks are still under the government and they can not do something without telling the government. If they have already integrated cryptocurrencies and are in the testing phase, maybe they only need agreement from the government to be fully adopted by the banks. Maybe they will announce that they also build their own system in blockchain so that they can collaborate with the crypto. Whether they want to adopt cryptocurrencies or still need time to adopt cryptocurrencies, that will be up to them.

[iv4n]

My nation's diasporal remittance dropped by about 80% because the people suddenly discovered the banks are fleecing them and ths diasporal remmitance makes up part of my nation GDP so the apex bank governor is confused in a bid to trying to save his job, he makes too many mistakes with cryptocurrency traders track down. He has failed too. You can't stop a technological advancement.

It's what happens with many countries... at least from what I read in the news around! And the numbers are rising, as you are saying, nobody can't stop technological progress, banks and governments are slowing it down, but they can't stop it! Simply people alone discover new opportunities that can make life easier for them, and in many ways cheaper... so I agree that bank sector is confused in trying to save their jobs, and they will be able to do it for some more time, but I guess their future is already decided!

[Renampun]

yep imo they are very scared of crypto...

Until now crypto is still a hot discussion in various countries, pros and cons occur everywhere, seeing the current situation, banks are afraid of people adopting crypto so that they lose the money they have been enjoying.

[DOH!]

Oh, they were ready to worry when intermediaries and bank staff departments would have to be unemployed. Mass adoption of blockchain in financial matters won't be earlier and easier, but it's almost certainly created that scenario. Banks being "removed" of their powers over traditional finance would be almost. Not to mention, the regulations to create a balance between benefits and risks have been imbalanced, and it is natural to change. It's difficult to say simple or more complex changes in the future but here we are, a way to choose a future of exceptional value - bitcoin and crypto

[syedzakir]

Yes they are because crypto currency is not even in the control of banks. They are a great system and maintaining a check and balance of assets of people their income and their other activities with the help of their bank account details as they could provide it to the local government in any case .
But with crypto currency no one is having information about the assets a person is having. So Banking system may be failed in the case.

[uneng]

yep imo they are very scared of crypto...

Until now crypto is still a hot discussion in various countries, pros and cons occur everywhere, seeing the current situation, banks are afraid of people adopting crypto so that they lose the money they have been enjoying.

These are the central and public banks which benefit themselves from the precarious inflationary system of fiat currencies.

But not all banks think like that. I believe many private banks would like to adopt cryptocurrencies into their services platforms, also operating like exchanges, because it will mean an extra profit for them.

In the case of central and public banks it's not interesting because they are direct concurrents to cryptocurrencies. If investors move funds to bitcoin and altcoins it means the traditional investments which benefit the establishment will lose demand, and consequently value.

That is why USA Federal Reserve is so worried about attracting investors again through better interest rates.

[skarais]

This is a good reason why banks are afraid of crypto adoption in my opinion because they don't want to lose so many investors. Banks operate with their customers' money where they just manage all the customer's money in order to profit from it. Obviously they will be very scared when most of the customers want to withdraw their money from the bank just to invest in crypto and this is the reason why they dislike crypto adoption even though the government can assume that it will only disrupt the economy.

I watched some video where there were some anti-bank people explaining how banks work. That makes sense, I guess, but anyone who believes in banks doesn't seem to care about that. Banks offer security while crypto is very risky and this is the reason why some people trust banks over crypto.

[dothebeats]

They may be worried about the rise of cryptocurrencies but certainly not afraid. They are still a highly trusted entity in the financial world and are still the go-to place when people need quick loans and safekeepers of money. Also, ultimately banks can adapt to changes and create their own digital currencies and market it heavily to the people, which I expect to be received fairly by the masses. In this day and age where a lot of people wanted to be 'free,' you'd be surprised by a lot of people still enslaved by the system without them knowing it.

[Dragonfund]

The advancement of cryptocurrency can never be sway away from banks, that credit will surely goes to them but again I must say that they are afraid of the traction on how crypto is moving.
Do you know that the way crypto is been rush, if that adoption is static or continues, we will see crypto physical exchanges by 2030. It's very possible and then the use of banks will become absolute.
Banks should be dining with crypto hit regulations and government policy wouldn't allow them and by the time they do, I don't know if may be it night be late for them already.
Long live cryptocurrency. 

[TheGreatPython]

We have seen a lot of such activities as they have said, that we’re carried out and at the end the culprits were found within a short time. I don’t think that these criminals would even want to make use of cryptocurrency if they want to do such, they would prefer to make use of other methods that they have been using before cryptocurrency was introduced. And I know for sure that a lot of them are making use of banking method, and still yet they have not been caught at all.

If these people are making use of banks and not being caught, doesn’t that mean that the banks themselves are bad and contributing to all these things? Because a lot of cases of big scammers, and the methods that they used to pull their money was through banks.

[DrBeer]

Since with the adoption of crypto there is no room for a middleman, they don't like that idea so they will not accept it so easily but I don't think they are afraid, crypto gives freedom and anonymous which is the total opposite of banks, don't expect a friendly approach from them, they will always try to paint a negative picture before the public but only those who are determined regardless of what is published can discover the true nature of crypto and its benefits.
Besides, the vast majority still use the banks so I don't see what they should be scared of.

Why should banks be afraid? Cryptocurrency is not even a means of payment! And technology - this is how banks will use blockchain technologies instead of classical banking processing. So the blockchain did not really do anything to become a threat to fiat money and its distribution systems (banks)

[Ultegra134]

Since with the adoption of crypto there is no room for a middleman, they don't like that idea so they will not accept it so easily but I don't think they are afraid, crypto gives freedom and anonymous which is the total opposite of banks, don't expect a friendly approach from them, they will always try to paint a negative picture before the public but only those who are determined regardless of what is published can discover the true nature of crypto and its benefits.
Besides, the vast majority still use the banks so I don't see what they should be scared of.

Why should banks be afraid? Cryptocurrency is not even a means of payment! And technology - this is how banks will use blockchain technologies instead of classical banking processing. So the blockchain did not really do anything to become a threat to fiat money and its distribution systems (banks)

Cryptocurrencies are a mean of payment, but they are often considered as assets, due to their nature of being volatile, which makes them a great investment. Take Bitcoin for instance, due to its high value, its transactions can't be applied on a daily basis, they are not affordable, nor efficient, since they can take quite a few hours to confirm.

[Coyster]

The thing is, the government wants to be in absolute control, so with the growth and development of Bitcoin they ought to be worried/afraid, the Bitcoin network offers its users the right to be their own bank and control their funds themselves, of course the government do not like this, they want their citizens to solely use currencies printed, controlled and distributed by themselves, that's why the government will stop at nothing to discredit Bitcoin by spreading one propaganda or the other. CDDC's were created in reaction to that fear and worry by the government, they want to provide their citizens an alternative digital currency to Bitcoin, and convince them to use it, but the thing is that central bank digital currencies are centralized and no better than fiat currencies controlled by the government. The government will definitely continue to fight to hinder the growth of Bitcoin, there will be more sanctions and regulations, but i am afraid the network is definitely heading for mass adoption as more and more people come to the realization of the benefits of being their own bank.

[D-law]

The banks might not be scared as we see here, they're are controlled by the government and the government make rules and regulations guiding what should be done and not done.
They have still got plans to do whatever they want with what goes in,out, and around them countries.
The funny part is that crypto currencies have come to stay banks should merge with them upgrade to crypto currencies terms and adapting to the current trend.
I think with this they can stay longer and people who are scared will want to invest and save more in cryptocurrency.

[bitgolden]

The thing is, the government wants to be in absolute control, so with the growth and development of Bitcoin they ought to be worried/afraid, the Bitcoin network offers its users the right to be their own bank and control their funds themselves, of course the government do not like this, they want their citizens to solely use currencies printed, controlled and distributed by themselves, that's why the government will stop at nothing to discredit Bitcoin by spreading one propaganda or the other.

I would say that as long as they can handle the regulations then there would not be a problem for governments. I mean they can't feel out of control when all they have to do is write laws regarding crypto and how it could be used. Look at all the websites that asks you to fill out the KYC form, do you really think that exchanges want that? That is something that governments asked them to ask and they got all of our information that way.

Coinbase literally gives all of our information on how much we traded and what we traded to IRS and SEC just to make sure that we are paying our taxes and not illegally making some money from somewhere. All in all I would say that governments should not worry about crypto at all, if you follow their rules then they are in control and if you do not follow their rule then they will put you in jail so it is quite simple really.

[Kimonoe]

Since with the adoption of crypto there is no room for a middleman, they don't like that idea so they will not accept it so easily but I don't think they are afraid, crypto gives freedom and anonymous which is the total opposite of banks, don't expect a friendly approach from them, they will always try to paint a negative picture before the public but only those who are determined regardless of what is published can discover the true nature of crypto and its benefits.
Besides, the vast majority still use the banks so I don't see what they should be scared of.

Why should banks be afraid? Cryptocurrency is not even a means of payment! And technology - this is how banks will use blockchain technologies instead of classical banking processing. So the blockchain did not really do anything to become a threat to fiat money and its distribution systems (banks)

Cryptocurrencies are a mean of payment, but they are often considered as assets, due to their nature of being volatile, which makes them a great investment. Take Bitcoin for instance, due to its high value, its transactions can't be applied on a daily basis, they are not affordable, nor efficient, since they can take quite a few hours to confirm.

it is a fact for now bitcoin is more inclined as an investment tool, not as a means of payment. I think the bank will move according to orders from the government, I think for now there are still many considerations to legalize it, because there are still many obstacles that must be perfected as you mentioned

[DaveF]

Painting the picture with too broad a brush.

Are *some* banks afraid of Crypto? Yes.
The same way they were afraid of the internet and online banking and banks that had no physical branches so they could compete for the same customers without a lot of expenses.
Some banks are VERY friendly to crypto:
https://www.americanbanker.com/payments/news/signature-bank-raises-its-bet-on-cryptocurrency

Are some central banks afraid of Crypto? Yes.
The larger ones that can't adapt fast enough, or have certain rules or controls that force them to operate in a way that crypto makes more difficult if not impossible.

Some other thoughts and comments:

Without data, do you doubt that over the past 2-3 years people have begun to invest and store cryptocurrencies more often? Do you think the 2.5 trillion contributed to the cryptocurrency industry are all speculators?

2.5 trillion for you or me is a lot of money. For a world wide economic instrument it's not a lot.

Since when did central banks care about their consumer base? If they were that virtuous, I would expect them to exercise a slight bit of financial responsibility ever now and then, but they seem immune from that. Traditional currencies are the biggest scam there is -- built in inflation rate and uncontrolled printing ensures that the value of one's funds decreases year over year.

The 1 CUSTOMER of a central bank is the government of that country. They are supposed to follow, more or less, what the government wants. In theory the government is supposed to be working for the good of the people, but that discussion is for another thread.

-Dave

[jostorres]

Painting the picture with too broad a brush.

Are *some* banks afraid of Crypto? Yes.
The same way they were afraid of the internet and online banking and banks that had no physical branches so they could compete for the same customers without a lot of expenses.
Some banks are VERY friendly to crypto:
https://www.americanbanker.com/payments/news/signature-bank-raises-its-bet-on-cryptocurrency

Are some central banks afraid of Crypto? Yes.
The larger ones that can't adapt fast enough, or have certain rules or controls that force them to operate in a way that crypto makes more difficult if not impossible.

I would guess that banks who are too late to participate in this will be getting results similar to being late to online banking as well. As we have all moved to using our mobile phones for most payments (at least in my nation) we are facing even less and less card payments, let alone cash payments and that will result with crypto getting closer.

As soon as there is a regulation saying banks could be used as crypto wallets, we will be able to spend our crypto anywhere all around the world thanks to our bank and that is the most important part. Any bank that will not do it will end up being left behind and that will result with them not being used a lot, and eventually people will leave to other places that does offer this chance. Let's see what happens but I do not agree that "afraid" is the right word, there are ones who care, and there are ones who do not care, the ones who do not care will end up losing a lot of money.

[DrBeer]

Since with the adoption of crypto there is no room for a middleman, they don't like that idea so they will not accept it so easily but I don't think they are afraid, crypto gives freedom and anonymous which is the total opposite of banks, don't expect a friendly approach from them, they will always try to paint a negative picture before the public but only those who are determined regardless of what is published can discover the true nature of crypto and its benefits.
Besides, the vast majority still use the banks so I don't see what they should be scared of.

Why should banks be afraid? Cryptocurrency is not even a means of payment! And technology - this is how banks will use blockchain technologies instead of classical banking processing. So the blockchain did not really do anything to become a threat to fiat money and its distribution systems (banks)

Cryptocurrencies are a mean of payment, but they are often considered as assets, due to their nature of being volatile, which makes them a great investment. Take Bitcoin for instance, due to its high value, its transactions can't be applied on a daily basis, they are not affordable, nor efficient, since they can take quite a few hours to confirm.

No, cryptocurrency is not a means of payment. This is a kind of virtual means, with an absolutely artificial price, which is not allowed by the state to be used as a means of payment, and does not have the status of a currency or its equivalent. Sweets and shells can also be a means of calculation in a kindergarten children's group. I hope you understand the difference? Until states recognize cryptocurrency as a means of settlement, everything else is our common fantasies, while we ourselves are pumping this speculative entity from our wallets

[Emitdama]

I would guess that banks who are too late to participate in this will be getting results similar to being late to online banking as well. As we have all moved to using our mobile phones for most payments (at least in my nation) we are facing even less and less card payments, let alone cash payments and that will result with crypto getting closer.

As soon as there is a regulation saying banks could be used as crypto wallets, we will be able to spend our crypto anywhere all around the world thanks to our bank and that is the most important part. Any bank that will not do it will end up being left behind and that will result with them not being used a lot, and eventually people will leave to other places that does offer this chance. Let's see what happens but I do not agree that "afraid" is the right word, there are ones who care, and there are ones who do not care, the ones who do not care will end up losing a lot of money.

Is it really necessary for banks to be the ones who will be holding our cryptocurrency for us? A decentralized cryptocurrency like bitcoin doesn’t need a bank to hold it for us, you can hold it for yourself and don’t need banks to hold it for you. And I also don’t think that we need banks playing the exchanger role in the market or do we?

When I got to know about Bitcoin I never saw it as a competition for the fiat, I simply saw it as another option, which is better. I don’t know why a lot of people these days has changed what it is all about, and they are now making it seem like bitcoin was created to be a competition. If bank should start accepting cryptocurrency, I am not going to have my coins stored in a bank, I’d rather have it stored in a private wallet where I would have my private keys and be in control.

[Mahanton]

I would guess that banks who are too late to participate in this will be getting results similar to being late to online banking as well. As we have all moved to using our mobile phones for most payments (at least in my nation) we are facing even less and less card payments, let alone cash payments and that will result with crypto getting closer.

As soon as there is a regulation saying banks could be used as crypto wallets, we will be able to spend our crypto anywhere all around the world thanks to our bank and that is the most important part. Any bank that will not do it will end up being left behind and that will result with them not being used a lot, and eventually people will leave to other places that does offer this chance. Let's see what happens but I do not agree that "afraid" is the right word, there are ones who care, and there are ones who do not care, the ones who do not care will end up losing a lot of money.

Is it really necessary for banks to be the ones who will be holding our cryptocurrency for us? A decentralized cryptocurrency like bitcoin doesn’t need a bank to hold it for us, you can hold it for yourself and don’t need banks to hold it for you. And I also don’t think that we need banks playing the exchanger role in the market or do we?

When I got to know about Bitcoin I never saw it as a competition for the fiat, I simply saw it as another option, which is better. I don’t know why a lot of people these days has changed what it is all about, and they are now making it seem like bitcoin was created to be a competition. If bank should start accepting cryptocurrency, I am not going to have my coins stored in a bank, I’d rather have it stored in a private wallet where I would have my private keys and be in control.

No its not necessary and i highly doubt that they would really be accepting it unless if its approved by the government since we know that these institutions are heavily regulated which its normal that they would abide all the rules and laws on where government do set out which it isnt surprising.Speaking with being afraid then i dont see Banks would be because they are just mediums but purely focused on fiat which had been always the thing since from the start. If they were tend to adopt or accept crypto then it would be always needing that approval by the government which is always been the standard.

[DrBeer]

Since with the adoption of crypto there is no room for a middleman, they don't like that idea so they will not accept it so easily but I don't think they are afraid, crypto gives freedom and anonymous which is the total opposite of banks, don't expect a friendly approach from them, they will always try to paint a negative picture before the public but only those who are determined regardless of what is published can discover the true nature of crypto and its benefits.
Besides, the vast majority still use the banks so I don't see what they should be scared of.

Why should banks be afraid? Cryptocurrency is not even a means of payment! And technology - this is how banks will use blockchain technologies instead of classical banking processing. So the blockchain did not really do anything to become a threat to fiat money and its distribution systems (banks)

Cryptocurrencies are a mean of payment, but they are often considered as assets, due to their nature of being volatile, which makes them a great investment. Take Bitcoin for instance, due to its high value, its transactions can't be applied on a daily basis, they are not affordable, nor efficient, since they can take quite a few hours to confirm.

it is a fact for now bitcoin is more inclined as an investment tool, not as a means of payment. I think the bank will move according to orders from the government, I think for now there are still many considerations to legalize it, because there are still many obstacles that must be perfected as you mentioned

That's just the point - objectively, cryptocurrencies, besides the fact that they are not yet as convenient as payments with usual cards, for example. Plus, have several problem areas, one of them, for example, the impossibility of returning or blocking an incorrect transaction. Well, and the status of a crypt at the state level - for now, one can only dream of the status of a means of payment equated to money.
BUT ! This is how an investment tool is - the ideal solution in the digital world!

[Lizzylove1]

Bankers are thieves who have been fleecing off the people for ages and today a better alternative than they offer is here, they are scared they won't be able to keep up with their extravagant lifestyle hence condemn crypto and fight it, Someone should educate them they have lost the war already. You can't stop a technological advancement.

[titular]

There is no way most banks could support cryptocurrency. While of course, we have countries that will embrace what bitcoin brings, we can't forget that we are threatening the very system that many powerful people built their foundation upon. We can't expect them to go down with a fight.

It's almost laughable to hear banks say that cryptocurrency enables fraud and money laundering. They love to throw that around yet they neglect to mention how much of those same activities transpire within their 4 walls.

[bonyaserg]

Personally, I can say that cryptocurrency came into our life very unexpectedly and everyone is trying to understand how to act and take the right step towards positive results. And now the task of many banks is to change their financial system for the development of digital technologies. So that banks can also profit from cryptocurrency, as a large number of people are already investing in cryptocurrency. Than to invest your finances with interest in the bank. And from this it follows that investing in cryptocurrency becomes a profitable business than using banks where people received a percentage of the deposit.

[kryptqnick]

They were dominant for a while and only had to worry about the competition between each other (in places where there are many banks with significant populatiry). Now there's a way to send money online without a bank, so they can unite against the common enemy. That being said, I don't think they're being reasonable. People like banks, they like that there's an institution responsible for their funds and being able to consult them about those funds. With cryptos, you have to be responsible and look for answers, and it's harder to correct mistakes if you made them. Also, the state relies heavily on banks in many cases. For example, in my country, and many others, you can no longer receive an official salary or scholarship without a bank account. So I think the threat is overestimated.

[el kaka22]

There is no way most banks could support cryptocurrency. While of course, we have countries that will embrace what bitcoin brings, we can't forget that we are threatening the very system that many powerful people built their foundation upon. We can't expect them to go down with a fight.

It's almost laughable to hear banks say that cryptocurrency enables fraud and money laundering. They love to throw that around yet they neglect to mention how much of those same activities transpire within their 4 walls.

It is not about supporting or being against it. Banks are not after being right or doing the right thing. They do not want to offer the best things to customers and help them earn a lot of money. Only thing they care about is making more and more money. To be fair, it is not an easy job neither, if you had 10 billion dollars in cash, turning that into 20 billion dollars in cash would be very hard, you could buy stocks with it and sell it but that would hurt the market if you did it all at once.

So, they are doing something risky and useless, they shouldn't do it at all, simple savings/loan combo would have been enough. In anyway, if they see that crypto would profit them a lot, they would quit all of the complaining about crypto all at once, and "support" it all of a sudden. Not because they like it, just because it would mean more profits.

[Zilon]

If the central banks are concerned about how their citizens gets scammed through crypto currency I would say it's not safe with fiat either because which ever way we decide we have scam experts who go about their business without trace. Presenting crypto currency in negative lights wouldn't stop investors as the find it safer for their personal data and how the move large funds without any middle man or intermediary.

[DoverDoane]

Are some central banks afraid of Crypto? Yes.
The larger ones that can't adapt fast enough, or have certain rules or controls that force them to operate in a way that crypto makes more difficult if not impossible.

I don't think banks are afraid of cryptocurrencies, but there are some things that hinder them. First, they have to adjust to their country's rules because there are still many countries that prohibit cryptocurrency transactions as a means of payment or something else, both cryptocurrencies are volatile, making it difficult for banks to manage them.

[Alisha-k]

I wouldn't say banks are afraid of adopting crypto but I'd rather say banks are unlike crypto currency are centralized and so subjected to the countries rules and regulations, the can't just adopt crypto if it's not accepted in the country where the operate.

[DrBeer]

....

As a potentially competing technology, I agree that today's settlement model is probably losing out to cryptocurrency models. But who prohibits central banks from adopting competing technologies and legislatively "squeezing" cryptocurrency? To force the exchanges to comply with the legislative exchanges, or to work only "on black" and to prosecute by law - and the "black exchanges" will not last so long ... The fact that an interesting asset for accumulation is - I am sure that the real income from THOUGHTED accumulation is much less than 50% of the total the number of crypt holders, which means the satisfaction rate is not very high, there are more fairy tales and "stories" create a beautiful picture

[Argoo]

Unfortunately all the indications are that banks don’t like crypto and don't want crypto adoption only if it's not CBDCs. They can’t control it and get commissions from transactions, from profit and from mining. Their expression of outrage makes sense as they lose money that must fill them. In El Salvador central bank immediately provided mobile app with obligatory KYC (to control crypto resources and people, who use them). China that seemed for me loyal to crypto, this year banned BTC mining and USA wants to do the same. What is this if not anxiety of banks that doesn’t get commissions and can’t have a total control among money their people use?

Of course, banks don't like cryptocurrency because cryptocurrency is actually a competitor to the banking system. At the same time, cryptocurrency does not pose a threat to the existence of banks. After all, the banking system is under the full protection of the state and is practically part of the state system of power. Banks can provide services in cryptocurrency, but they will not actively support it.

[laredo7mm]

If you know there is something that can take away your main source of income then what will you do? You will be afraid and worried about yourself and everyone you are responsible for. Bank generates income by borrowing people's money with low interest and lending them with high interest. They use people's saving to run their business. So if people can use the crypto wallet to do all those things that they can do with the bank then why they will use a bank. If the use case of banks is less demanding they will be shut down for sure which is a concerning matter to them.

[tygeade]

If you know there is something that can take away your main source of income then what will you do? You will be afraid and worried about yourself and everyone you are responsible for. Bank generates income by borrowing people's money with low interest and lending them with high interest. They use people's saving to run their business. So if people can use the crypto wallet to do all those things that they can do with the bank then why they will use a bank. If the use case of banks is less demanding they will be shut down for sure which is a concerning matter to them.

Yup you are correct, the banks are going to be scared of cryptocurrency because they think that it is going to take away their source of income. But, I don’t really think that is going to be the case. Cryptocurrency is not really going to wipe out the banks like a lot of people think. I think that there’s still going to be the need for banks, and there are some very important roles that they will always continue to play in the economy.

So, they wouldn’t go away because of that. And moreover we are now seeing the release of central banks digital currencies, which is going to be issued by the banks as well, so they’re not really going away, they’re still going to be there. I only see cryptocurrencies to serve as an alternative, and not a replacement.

[Raflesia]

If the central banks are concerned about how their citizens gets scammed through crypto currency I would say it's not safe with fiat either because which ever way we decide we have scam experts who go about their business without trace. Presenting crypto currency in negative lights wouldn't stop investors as the find it safer for their personal data and how the move large funds without any middle man or intermediary.

In this case, the real reason may not come from the bank but from the government side and the rules they make.
The reason they are too worried about crypto is because they are really very difficult to control and there are even some prominent figures who do say that they hate crypto especially bitcoin because they are very difficult to control.
banks are now almost completely under the control of the government, like it or not they have to run in accordance with existing government regulations

[stomachgrowls]

If the central banks are concerned about how their citizens gets scammed through crypto currency I would say it's not safe with fiat either because which ever way we decide we have scam experts who go about their business without trace. Presenting crypto currency in negative lights wouldn't stop investors as the find it safer for their personal data and how the move large funds without any middle man or intermediary.

In this case, the real reason may not come from the bank but from the government side and the rules they make.
The reason they are too worried about crypto is because they are really very difficult to control and there are even some prominent figures who do say that they hate crypto especially bitcoin because they are very difficult to control.
banks are now almost completely under the control of the government, like it or not they have to run in accordance with existing government regulations

Banks are highly regulated thats why whatever government perceptions and views it may be then they would be always following with that thats why its not really surprising that those things on which

government do hates on would be always the things that they would be hating too thats why its not really surprising that they would be having those kind of impressions too but i have seen some banks

do really deal up with crypto but of course it would depends or vary on that countries government point of view or impressions towards crypto.

[Oceat]

I do think that banks are afraid of cryptocurrency especially Bitcoin, somehow since they've been releasing different regulations to control who's using Bitcoin. If the worldwide adoption of Bitcoin happen, maybe they would try to ban users from using cryptocurrency. Although, El Salvador is different from us but they welcome Bitcoin wholeheartedly despite of the volatility of the market.

Somehow, I do think that what if banks would change their perspective instead of forcing something that would lead to chaos in the long run? I'm not saying it's not hard but it's not that easy too since the people are all divided in ideas and beliefs. Since not everyone has the same point of view.

[Tumanggor]

Bankers are thieves who have been fleecing off the people for ages and today a better alternative than they offer is here, they are scared they won't be able to keep up with their extravagant lifestyle hence condemn crypto and fight it, Someone should educate them they have lost the war already. You can't stop a technological advancement.

banks are very afraid of crypto adoption. Banks are legal loan sharks that have been approved by the government for hundreds of years

when the cryptocurrency has been adopted, the bank function is completely absent anymore. or maybe banks now will become a place to store crypto assets

the conclusion is that banks should accept cryptocurrencies and try to make them survive and exist in the future, there's no point fighting crypto

[Vaskiy]

I do think that banks are afraid of cryptocurrency especially Bitcoin, somehow since they've been releasing different regulations to control who's using Bitcoin. If the worldwide adoption of Bitcoin happen, maybe they would try to ban users from using cryptocurrency. Although, El Salvador is different from us but they welcome Bitcoin wholeheartedly despite of the volatility of the market.

Everywhere there'll be opposition as well as acceptance. El Salvador too isn't an exception, the people haven't welcomed bitcoin wholeheartedly. There were protests, but the government was strong on the decision. Later people realised the goodness out of the growth of bitcoin price which brought in good sum of money. Now slowly people are getting adopted to it.

Salvador street protest breaks out against bitcoin adoption

Somehow, I do think that what if banks would change their perspective instead of forcing something that would lead to chaos in the long run? I'm not saying it's not hard but it's not that easy too since the people are all divided in ideas and beliefs. Since not everyone has the same point of view.

Some part of the World banks have started to support bitcoin transaction. The lastest being the German bank on the development of infrastructure to support bitcoin and other cryptocurrencies investment directly from the savings bank account. Maybe in the future more other banks can go with similar decision.

German savings banks want to enable Bitcoin for 50M clients

[Raflesia]

In this case, the real reason may not come from the bank but from the government side and the rules they make.
The reason they are too worried about crypto is because they are really very difficult to control and there are even some prominent figures who do say that they hate crypto especially bitcoin because they are very difficult to control.
banks are now almost completely under the control of the government, like it or not they have to run in accordance with existing government regulations

Banks are highly regulated thats why whatever government perceptions and views it may be then they would be always following with that thats why its not really surprising that those things on which

government do hates on would be always the things that they would be hating too thats why its not really surprising that they would be having those kind of impressions too but i have seen some banks

do really deal up with crypto but of course it would depends or vary on that countries government point of view or impressions towards crypto.

Banks and government regulations are one unit that cannot be separated easily.
So what you're saying isn't that it's clear because they really won't be able to reject what the government has decided and can't help but accept the rejection (in this case crypto).
on the other hand, talking about banks that do support crypto, actually it goes back to government policy as well when the government is crypto-friendly like in elsavador then the bank will not be able to prohibit it and vice versa

[lixer]

I do think that banks are afraid of cryptocurrency especially Bitcoin, somehow since they've been releasing different regulations to control who's using Bitcoin. If the worldwide adoption of Bitcoin happen, maybe they would try to ban users from using cryptocurrency. Although, El Salvador is different from us but they welcome Bitcoin wholeheartedly despite of the volatility of the market.

Everywhere there'll be opposition as well as acceptance. El Salvador too isn't an exception, the people haven't welcomed bitcoin wholeheartedly. There were protests, but the government was strong on the decision. Later people realised the goodness out of the growth of bitcoin price which brought in good sum of money. Now slowly people are getting adopted to it.

Salvador street protest breaks out against bitcoin adoption

People will always go against something big changing, bitcoin being a legal tender is not something easy for most people to understand so it is understandable for them to be against it for a while. The important thing is for governments to force it, and wait for it to go up and then people will understand it, just like how it happened in El Salvador and just like how it will happen anywhere around the world. Adoption is not easy, it is going to be very difficult to have it as legal tender everywhere, not going to be easy to even consider it as foreign exchange.

Consider US dollar, you could take that and go to any nation in the world and can vacation at any spot, you will definitely like it and you will definitely not face any problems. That is exactly what I want to see bitcoin becoming, even if not legal tender, just be able to swap it for local currency anywhere I go.

[Blue0x.com]

Banks are profiting from crypto.  If anything, they love crypto.  Look at Coinbase FDIC insurance and CIrcle with their USDC.  I would venture to guess that USDC is lined up to be the first CBDC.  Interesting times we are living in.

[browsiek]

In this case, the real reason may not come from the bank but from the government side and the rules they make.
The reason they are too worried about crypto is because they are really very difficult to control and there are even some prominent figures who do say that they hate crypto especially bitcoin because they are very difficult to control.
banks are now almost completely under the control of the government, like it or not they have to run in accordance with existing government regulations

Banks are highly regulated thats why whatever government perceptions and views it may be then they would be always following with that thats why its not really surprising that those things on which

government do hates on would be always the things that they would be hating too thats why its not really surprising that they would be having those kind of impressions too but i have seen some banks

do really deal up with crypto but of course it would depends or vary on that countries government point of view or impressions towards crypto.

Banks and government regulations are one unit that cannot be separated easily.
So what you're saying isn't that it's clear because they really won't be able to reject what the government has decided and can't help but accept the rejection (in this case crypto).
on the other hand, talking about banks that do support crypto, actually it goes back to government policy as well when the government is crypto-friendly like in elsavador then the bank will not be able to prohibit it and vice versa

Because crypto will be the end of the heyday of a fraudulent banking system by transparent, decentralized and low-cost protocols, crypto users think that banking is evil because transaction fees are too expensive and slow for example international transactions and others. In fact, when figures find solutions for easy banking transactions, the world is nervous because of what will happen when the world adopts cryptocurrency as a transaction tool. And if crypto is legalized as a global transaction tool, many banks will go bankrupt because people no longer use their services as intermediaries for transactions. Associated with the country may not be a problem if this crypto provides benefits for the country that adopts it.

[Cling18]

Bankers are thieves who have been fleecing off the people for ages and today a better alternative than they offer is here, they are scared they won't be able to keep up with their extravagant lifestyle hence condemn crypto and fight it, Someone should educate them they have lost the war already. You can't stop a technological advancement.

banks are very afraid of crypto adoption. Banks are legal loan sharks that have been approved by the government for hundreds of years

when the cryptocurrency has been adopted, the bank function is completely absent anymore. or maybe banks now will become a place to store crypto assets

the conclusion is that banks should accept cryptocurrencies and try to make them survive and exist in the future, there's no point fighting crypto

Cryptocurrency has always been a threat to banks especially now that lots of people are getting more comfortable in using it because of the convenience that it provides as a currency and its profit as an investment. We all know the capability of cryptocurrency to take down banks but they wouldn't allow it as well as the government because they couldn't regulate it. Banks will be banks but crypto is a big threat that might replace them in the future if there would be more adoptions that would happen.

[Gozie51]

Someone thinks that the introduction of CBDC will help the development of the crypto industry. Personally, I believe that CBDC will only stick a stick in the wheels of real cryptocurrencies, because they have different purposes. Cryptocurrencies are designed to save a person from banking oppression and make a person financially independent, at least in terms of control over their money, and CBDC is purely a centralized crypto surrogate that is designed to establish centralized control in the digital sector, where cryptocurrencies now rule.

Of very good reason cryptocurrency and CBDC are of different purpose. Cryptocurrency ethusiast understand that CBDC was for fighting cryptocurrency and not to support it. Cryptocurrency have been under critism. Government that have tried to stop the masses in their jurisdiction open up portal for CBDC to discourage the use of bitcoin and cryptocurrency, countries like China, Nigeria and more but El Salvador that has adopted bitcoin is yet to I think so.

[Falconer]

Of very good reason cryptocurrency and CBDC are of different purpose. Cryptocurrency ethusiast understand that CBDC was for fighting cryptocurrency and not to support it. Cryptocurrency have been under critism. Government that have tried to stop the masses in their jurisdiction open up portal for CBDC to discourage the use of bitcoin and cryptocurrency, countries like China, Nigeria and more but El Salvador that has adopted bitcoin is yet to I think so.

Banks will create their own user base for CBDC and the crypto will remain the same even if the government appears to want to fight it at all costs. CBDC is expected to have a competition with crypto to determine who is actually better between the two, if we are crypto users then we will definitely be more loyal to whatever we already have from crypto, especially bitcoin with all its innovation.

It is known that government do not like uncontrolled financial systems like cryptocurrencies and that makes them afraid to adopt them which we have heard many times about the stability of the existing economy. I know it's just one reason, but they have a thousand other reasons not to let the financial system get out of hand.

[ChiBitCTy]

Personally I think that it is a bit of both.  I think that they somewhat fear or don't like bitcoin and other cryptocurrencies, but I also think that they see a lot of financial opportunity for them.  I mean as of right now you still need to exchange your bitcoin/cryptocurrency for fiat currency.  So banks are still needed and it seems to me that they will be needed for quite some time.

I think most banks don't see much of a threat at the moment.  I think it's more governments who fear/dislike crypto.

[Blue0x.com]

Personally I think that it is a bit of both.  I think that they somewhat fear or don't like bitcoin and other cryptocurrencies, but I also think that they see a lot of financial opportunity for them.  I mean as of right now you still need to exchange your bitcoin/cryptocurrency for fiat currency.  So banks are still needed and it seems to me that they will be needed for quite some time.

I think most banks don't see much of a threat at the moment.  I think it's more governments who fear/dislike crypto.

Banks are the Government.  

Repeat that 1000x over.

Then your training will be complete young grasshopper.

[Silberman]

Banks are profiting from crypto.  If anything, they love crypto.  Look at Coinbase FDIC insurance and CIrcle with their USDC.  I would venture to guess that USDC is lined up to be the first CBDC.  Interesting times we are living in.

They are adapting to the changing circumstances and nothing more, if it was up to them bitcoin will disappear yesterday, but now they understand that this is not possible for the moment and they are making the best out of a bad situation, they are hoping that if they buy enough time then they will find a solution to their problems, but this is not possible and bitcoin despite their desires is going to keep increasing in value and it will slowly take over part of the services they offer to their clients.

[Mahanton]

Banks are profiting from crypto.  If anything, they love crypto.  Look at Coinbase FDIC insurance and CIrcle with their USDC.  I would venture to guess that USDC is lined up to be the first CBDC.  Interesting times we are living in.

They are adapting to the changing circumstances and nothing more, if it was up to them bitcoin will disappear yesterday, but now they understand that this is not possible for the moment and they are making the best out of a bad situation, they are hoping that if they buy enough time then they will find a solution to their problems, but this is not possible and bitcoin despite their desires is going to keep increasing in value and it will slowly take over part of the services they offer to their clients.

They would simply adapt if they would be told to do so or would be approved out by the government which is understandable since they are the main reasons on why these centralized institutions wont be touching up

crypto because of that reason which is something not surprising since they are highly regulated and its a common behavior or qualities that they do have.They arent afraid as long they do abide with the law

and if ever there would be some changes then they would just simply make out some adjustments or adaption whenever there's something new.

[kaya11]

I think some of the banks but not all banks. I bet there are many workers of banks or even managers or maybe higher than those positions that are investing or interested in crypto currencies. I saw one with my own eyes and then he openly talks about it and it makes him happy. He was okay with crypto currencies and studying a lot more.
When I was opening a bank account one time, the manager ask me where do I get my funds and I told him that it was somewhat related online and he ask me if it was from bitcoins or crypto as a whole and I said yes. He then never ask me further and decided to approve my application, it just shows that they recognize the crypto industry.

[goldkingcoiner]

I think that banks are afraid of crypto adoption and quite extremely, I would say. Crypto is there to literally replace banks. Blockbuster facing the age of internet streaming videos , basically. At this point it is only a small matter of time until nobody wants to use banks anymore. Why even pay a fee for a third party to hold your money? That just seems like a stone age idea that has never gotten replaced-

[DrBeer]

I think that banks are afraid of crypto adoption and quite extremely, I would say. Crypto is there to literally replace banks. Blockbuster facing the age of internet streaming videos , basically. At this point it is only a small matter of time until nobody wants to use banks anymore. Why even pay a fee for a third party to hold your money? That just seems like a stone age idea that has never gotten replaced-

This is a fairytale. Cryptocurrency now, and in the short term, will depend on fiat and the banking system. In any case, in order to use crypto, 99% of you need to withdraw it and convert it into currency, fiat currency. And only then can you use the derivative of the crypt for real use. Why should banks be afraid if the value of a crypt is estimated in fiat? Crypto is introduced to fiat to cover 99.9 of human needs. And this is all the% that banks receive, and they also control whether to let the exchange withdraw money to a bank card or not. "Black" cashing schemes - vryatli everyone will want to intersect with the criminal code and be held accountable. And if you use the cryptocurrency officially, then all the advantages of the cryptocurrency are immediately reset to zero ...
In a word - assess the reality, and you will understand that the "savior cryptocurrency" is more of a myth.

[HUSTLER]

Not necessarily. Well, maybe some, but I guess there a handful reasons why certain banks show strong disapproval of crypto. Perhaps many of these banks have yet to really explore the basics of crypto and its potential. Or perhaps the highly unregulated characteristic of crypto truly bothers them. Or since banks, being financial institutions, are rather stringent, they seem to have a distaste of the anarchist, irreversible, pseudo-anonymous nature of crypto. But, make no mistake, many of them are already joining the community.

[TheGreatPython]

Bank was control by the government. So the term bank are the government is the real fact in the crypto market. Government will not fear about the crypto or crypto market. Cryptosystem and crypto investors only fear about the government and government legalising and their loss on crypto currency.

That’s right, the government are the ones who are in control of everything that has to do with finance. That is why we have the central bank which is always in control of the whole banks that are operating in a country and makes their reports to the government. Every bank there is, is always licensed by the central bank, and they all report back to the central bank, while the central bank now acts as the eyes of the government.

In a way, I will say that the government are also afraid of crypto, from what I see. When they see the level of freedom that cryptocurrency can give to the people, and how people can be able to override a lot of blockages that they,the government, might have placed by using Bitcoin , they would be afraid of allowing people to make use of it.

[dezoel]

I do get that banks are worried about issues such as bitcoin being used for the wrong reasons, but that’s not really the main thing; I think that the main thing that worries them a lot is the fact that they feel that bitcoin might be bad for their business, because a lot of people might start switching to making use of bitcoin and use it a lot than their banks which might affect the business that banks are doing.

By the way, I don’t think issues like this should be enough reason for them to be trying to be stopping a really good innovation like this. They should look for ways to handle those things they believe are the bad sides, instead of trying to put an end to Bitcoin. Moreover those things that they are using as an excuse has been happening right before Bitcoin starts to exist.

[milewilda]

I do get that banks are worried about issues such as bitcoin being used for the wrong reasons, but that’s not really the main thing; I think that the main thing that worries them a lot is the fact that they feel that bitcoin might be bad for their business, because a lot of people might start switching to making use of bitcoin and use it a lot than their banks which might affect the business that banks are doing.

By the way, I don’t think issues like this should be enough reason for them to be trying to be stopping a really good innovation like this. They should look for ways to handle those things they believe are the bad sides, instead of trying to put an end to Bitcoin. Moreover those things that they are using as an excuse has been happening right before Bitcoin starts to exist.

Are they are that in much concern about adoption of bitcoin or generally with crypto? I dont think so because anytime they could deal with it as long the government permits
and since these institutions are heavily regulated then its normal that they would really be following government orders and laws which we know that most of them are really against
on cryptos existence thats why they dont really bother out on what would or should be accepted.

[Russlenat]

I do get that banks are worried about issues such as bitcoin being used for the wrong reasons, but that’s not really the main thing; I think that the main thing that worries them a lot is the fact that they feel that bitcoin might be bad for their business, because a lot of people might start switching to making use of bitcoin and use it a lot than their banks which might affect the business that banks are doing.

Their main business is on giving loans, I don't think that bitcoin could compete on that. They'll only be worried if people will not trust bank anymore on saving their money, and instead convert it to bitcoin to save and invest as their main source of funds for loan distribution will reduce.

[hello_good_sir]

Oh yes.

Just ring your bank and ask them about a crypto purchase that you are going to undertake. See their reaction and you'll understand that they are fearful of the change.

I think though that a lot of bank employees are conditioned by the higher-ups to see cryptos as some sort of threat, and they just take it on blindly because they don't really understand the technology that is underlying bitcoin and other decentralized currencies. If more education is given to these people about this matter, their attitudes could seriously change.

[DrBeer]

Oh yes.

Just ring your bank and ask them about a crypto purchase that you are going to undertake. See their reaction and you'll understand that they are fearful of the change.

I think though that a lot of bank employees are conditioned by the higher-ups to see cryptos as some sort of threat, and they just take it on blindly because they don't really understand the technology that is underlying bitcoin and other decentralized currencies. If more education is given to these people about this matter, their attitudes could seriously change.

Let's call the bank and ask them to sell Google shares. Or call the bank and ask them to invest your money from the card in SpaceX. What will you hear? That's right - banks are afraid of SpaceX and Google!
In fact, the bank is not obliged to trade cryptocurrencies and other assets, it has other goals, and the main resource is CURRENCIES, official currencies. This is how bitcoin will become the official currency - you call the bank and they will easily sell it to you, or you can easily exchange part of your fiat from your account to your cryptocurrency account from the banking application on your phone while walking.

[btc_angela]

it seems that banks don't care about the fear of Crypto, recently the bank equated Crypto with world banks, which resulted in Crypto being side by side with world banks for its progress.

with the result that they are partnering with what the world bank wants

Perhaps you are talking about CBCD's?

For me I don't equate them with crypto itself, because obviously it is back up by the government so it will be centralised and I doubt that it can be traded in an exchange. They could be just define as similar to fiat, in my opinion.

But as far as Banks being afraid of crypto, maybe, that's why they are like issuing bans on telling the public about the dangers of cryptos.

[Ozero]

On many occasions I think we have seen that banks publicly stating that they will not support crypto adoption will only make them worry about the emerging economic problems. Obviously they look scared, but going forward we really don't know how this rule can be softened.

Banks have personal reasons why adoption is impossible and one of them may be because of their desire to own a fully centralized cryptocurrency. The adoption of crypto, especially bitcoin, will only make them lose their income in the form of investing in customer funds that they have been using, people prefer bitcoin which is very easy to make transaction and many other things.

Of course, it cannot be denied that the emergence of a decentralized cryptocurrency and especially its successful further development and distribution around the world is a big problem for the banking system. In any case, cryptocurrencies have already taken a decent part of their profits from banks, as more and more people keep their money not in banks, but in cryptocurrencies, which in many cases provide significantly more profit than banks offer. At the same time, it cannot be said that the banks are strongly concerned about their continued existence. I believe that banks have nothing to fear in this regard, since the banking system as a whole is under the direct protection of states. In addition, banks perform other functions of servicing the financial and economic activities of institutions and organizations of all forms of ownership, as well as the economy of the state as a whole, which cryptocurrency cannot perform. Therefore, as long as states exist, their banking system will exist.

[dunfida]

I do get that banks are worried about issues such as bitcoin being used for the wrong reasons, but that’s not really the main thing; I think that the main thing that worries them a lot is the fact that they feel that bitcoin might be bad for their business, because a lot of people might start switching to making use of bitcoin and use it a lot than their banks which might affect the business that banks are doing.

Their main business is on giving loans, I don't think that bitcoin could compete on that. They'll only be worried if people will not trust bank anymore on saving their money, and instead convert it to bitcoin to save and invest as their main source of funds for loan distribution will reduce.

People might known about crypto but majority would really be sticking out on saving up their money into banks and im pretty sure that Banks are confident with that and it is true that their main aim is to give out some loans and give out interest on it and this is how this institution make out money and we know that these things are heavily regulated
which it is understandable that they would really be complying  on whats been asked.

We've seen several Banks accept or adopt crypto or still in neutral but it wont take that long that they would be ending up on having the same perspective.

[YinShuiSiYuan]

As far as I know, many banks have tried to adopt cryptocurrencies and many are still trying to do so. Unfortunately, the problem for the bank is that they cannot control the decentralized system. Decentralization is the complete opposite of what banks were made for. In other words, in my opinion, either banks will simply create their cryptocurrencies and will try to appear on the market like any other coin, or they will have to fight to survive in the financial market.

[Obito]

As far as I know, many banks have tried to adopt cryptocurrencies and many are still trying to do so. Unfortunately, the problem for the bank is that they cannot control the decentralized system. Decentralization is the complete opposite of what banks were made for. In other words, in my opinion, either banks will simply create their cryptocurrencies and will try to appear on the market like any other coin, or they will have to fight to survive in the financial market.

Not the big ones if I recall, they still think that crypto is a passing fad and it will be gone in a years, and that kind of thinking is loop for them every year. This was reminiscent of the starting of Internet, everyone thought that it's just a fad but here it is. They're most likely to create their own coin rather than adopt cryptocurrencies directly because they know that they might be able to more profits out of the former than the latter.