UK Banks Crypto Crackdown

14 days ago I set up my steemit account via blocktrades. During the process, as anyone you are required to have a crypto currency to pay for the account (this of course doesn't apply if you get your steemit account naturally through the waiting list etc). So I popped over to a broker and tried to pay for some ethereum and too my shock it wasn't declined but REFUSED. On contacting the bank (Santander) they informed me that they are blocking all payments to crypto currencies for the consumers safety!!! despite the amount I wanted to purchase being less than £10.

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Yes I understand that crypto currency has been volatile but to me not being able to spend £10 the way I like is astonishing and breach of consumer rights.

The real reason for this increasingly widespread crackdown is of course nothing to do with protecting me more that crypto currency frightens the crap out of the banks. Money is longer valued against a real asset like gold it is simply issued by the press of a button. Real physical notes are "promissory" meaning that holder of the note promises to pay on demand the real value of the money.

Crypto currencies slice through this because they first cut out the central control mechanism that is banks. Why would we need a bank if we can transmit "value" through a blockchain. Secondly their ability to invest and collect interest is greatly reduced and could be eventually extinct. So the reason UK steemians will find it hard to purchase steem and other currencies is because this world is a serious threat to the most powerful financial institutions in the world.