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[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.