[2014-08-08] EU regulator tells banks to shun bitcoin

[bitsmichel]

LONDON Banks in the European Union  (EU) should refrain from offering customer accounts in virtual currencies like bitcoins until regulatory safeguards are in place, the bloc’s banking watchdog said on Friday.

The EU’s executive European Commission responded by saying it was imperative to look quickly at possible regulation.

Source: http://www.omantribune.com/index.php?page=news&id=170908&heading=Business

What do you think about this? I think banks will eventually vanish, we do not need them any more

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[dserrano5]

What do you think about this?

Old news.

[LiteCoinGuy]

nothing new.

[Kprawn]

Yea same old story... Their own ship is sinking and they ignoring the currencies that might save their ass.

They would rather ride a dead donkey than climbing into the car. 

Leave them behind, while we drive around in the air-conditioned car, with speed control. 

[jbrnt]

Banks are not going to vanish. Their services are still valuable even if bitcoin becomes mainstream. They are not offering bitcoin related services now because they are still uncertain about money laundering regulations. They are being cautious.

[freakying99]

Banks use fraction reserve, so if regulation like NY is used, banks could not use fraction reserve on Bitcoin. Thats why the wait I hope 

[Paladin69]

Yea same old story... Their own ship is sinking and they ignoring the currencies that might save their ass.

They would rather ride a dead donkey than climbing into the car.  

Leave them behind, while we drive around in the air-conditioned car, with speed control.  

They would rather lose than watch their debt slaves live comfortably for once.  The banking elite is full of really sick and disgusting people that want less and less for others.

[gmx95]

What else did you expect? Bitcoin wasn't created for the banks. It would be the best if they don't get involved at all.