Cryptocurrencies have been around for more than a decade. So you might think that the banks had already made a deal with Fiat Money’s main competitor.
Including Jamie Dimon, CEO of JPMorgan, the largest US bank. You haven’t spoken a crossword puzzle about assetsat once – at least not in public. In Europe, a Reddit member has documented their experience of being blocked by a local bank to complete cryptocurrency transactions.
Crypto transactions blocked
Reddit member pm-os hit a wall with his bench and turned to the forum for help. According to the thread, this user tried to convert cryptocurrencies to Fiat, but he faced a rude awakening. The bank “apparently blocked all crypto trading” and did not allow pm-os to transfer “money” to its bank account.
The Reddit member pm-os He ran against a wall with his bench and turned to the forum for help. According to the thread, this user tried to convert his cryptocurrencies to Fiat, but had a hard awakening. The bank apparently “blocked all exchange with crypto” and did not allow pm-os to transfer “money” to its bank account.
It is no wonder that the Reddit community on r / Cryptocurrency has not disappointed with almost four dozen responses so far.
Small European country
We don’t know much about pm-os except that this Reddit member is from a “small European country” and likes cryptocurrencies. The general advice from the crypto community was that this person should get rid of their bank.
Apparently, threats to the bank don’t get this person anywhere, and this particular region makes it difficult for this user to “just switch banks”, so he can’t follow the advice from the top answers in the Reddit thread. Although pm-os has not disclosed what bank it is, it appears that it is not that easy for the user to move their possessions to another location.
Apparently there are two banks in this country that are against crypto. Both declare that pm-os is involved in litigation. “[prohibir] to their employees, including having cryptocurrencies, and say that “if they do, they will lose their jobs.” [World Atlas] JPMorgan’s Dimon has previously issued similar threats to employees. [Inc.]
One idea that seemed to appeal to this person was to use an encrypted debit card, which pm-os replied to:
“Oh, I didn’t know they existed, thanks, I’m going to investigate.”
A Reddit member with the username Crypto_Grandma described his experience with the cardThe Crypto.com visa that they received a few weeks ago is:
“Great benefits with high-end options (for which you need to play your MCO token), but there’s also a free card that gives you 1% cashback on all expenses.”
Another Reddit member, Rounder057, felt sorry for pm-os and revealed that his lender had also blocked the purchase of cryptocurrencies.
A 2018 Financial Times article shows that British banks have reduced mortgage loans to customers with a history of cryptocurrency deposits. Switzerland is the clear exception where the Zurich-based company Vontobel has introduced cryptocurrencies and is behind products that enable investors to get involved in Bitcoin., ETH y .
The Reddit user who posted the thread ended the thing on a high note, saying he could find a bank that was “positive” about cryptocurrencies. But they have to wait for things to calm down since COVID-19 before the bank talks to them.
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