RE: Crypto Crackdown Begins: Bank Threatens To Close Customer Account Because Of Coinbase Purchases: “Against Policies… Will Need To Be Discontinued Immediately”
It's the government that applies the pressure in many cases.
Consider the online poker boom of the early 2000's. All was going well... Deposits and withdrawals were a piece of cake.
It was our elected government officials that inserted language into a totally unrelated Port Authority security bill minutes before the vote - this language restricted the ability of customers to make debit or wire transfers purchases to their poker accounts.
The industry from U.S. based customers was destroyed, quite literally, overnight in terms of revenue.
My mention of the government here is merely a warning.
The government - better said, the big banking interests within the government that want to maintain control of trillions in cash via centralized systems - are actively working to supplant the open crypto movement.
Where would this bank have gotten the idea to make Coinbase transactions a policy violation, if not from a regulatory entity?
That's all I'm sayin' :)
Thanks for your comment!
Mac
To view banks and governments as one and the same, you really gotta be painting the world with a pretty wide brush. The interests of banks and governments are opposed more often than not. Unfortunately there are some politicians that serve the international bankers. The good news is there are some elected officials and candidates out there that build their entire platform on taking power back from giant banks and corporations, and returning it to the people it was stolen from.
