After Rejecting Cryptocurrency Entrepreneurs For Fear Of Money Laundering, Rabobank Fined $400 Million For Money Laundering

in cryptocurrency •  last year



If there is a God, he has a great sense of humor.

Rabobank. one of the largest banks in Holland, was on record as late as last week turning down potential cryptocurrency entrepreneurs for bank accounts.

In a case with ties to Mexican drug cartels, Rabobank's California division pleaded guilty to conspiracy and was served with a multimillion dollar fine.

Despite these reprimands, no bank officials have been served with custodial sentences involving jail time. God bless America.

You would think that the Netherlands would have a more open policy towards cryptocurrency. Amsterdam was, for many years, one of the only places in the modern West where you could buy as many marijuana, mushrooms and hookers as you could afford.

But it seems that the country's liberal views on substance abuse do not carry over to their banking system. And similar to the rest of the world, it seems that the technology and banking worlds are butting heads here as well.

As with nearly everything in our world, it's all about the money. When Rabobank accepts illegal money from Mexican drug cartels, they are able to extract a sizable bribe. But the same cannot be done for legit cryptocurrency entrepreneurs, as they are operating ostensibly legal businesses.

While the rest of the world struggles to define their own relationship with cryptocurrency, one thing is for sure: countries that fail to adapt to this new paradigm will be left in the dust.

What do you think about #cryptocurrency regulation in the #Netherlands and abroad?

Tell me in a comment below!

Can't get enough of me? Follow me on Instagram!

bootay.png

Check out some of my other posts here:

Follow, resteem and smash dat mf like button...


Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Haha serves them right huh? The thing is, banks and politicians would always kick against cryptocurrencies because it gives people financial freedom and they don't want that. They enjoy the control. Banks would want to charge for interest rates but with more financial freedom for people, there won't be need for too many of loans. Also, politicians use basic amenities and food to lure and deceive people but with more financial flex, the politicians won't have any controlling power.

·

Possession is 9/10 of the law. In this case, they possess the power and can do as they please. Will probably stay this way for the foreseeable future. What will happen later? Nobody knows. But I can't say I don't love reading articles every day about politicians and banks shitting themselves re: crypto

·
·

Hahahaha such fun to see and 'i told you so' stick it to their faces look. They will be helpless when it comes to this. People are getting wiser. Yaaaay!

It's more about interests than it is about what is right isn't it?

You got a 37.43% upvote from @allaz courtesy of @yallapapi!

This post has received a 23.84 % upvote from @aksdwi thanks to: @yallapapi.

Resteemed by @resteembot! Good Luck!
Curious? Read @resteembot's introduction post
Check out the great posts I already resteemed.

RESTEEMBOT IS FOR SALE
I COULD WRITE CODE FOR YOU

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BATBasic Attention Token0.394$8.16%-3.45%
REQRequest Network0.309$11.73%-1.24%
TRXTRON0.053$50.04%38.99%
VENVeChain4.701$13.27%-3.0%
WTCWalton25.131$14.79%3.09%

Very good information friend good graphics thanks for the contribution to the community greetings success

You got a 13.87% upvote from @minnowvotes courtesy of @yallapapi!

Banks are getting increasingly scared of crypto. And they should be.

@resteem.bot
Resteemed to over 12000 followers and 100% upvoted. Thank you for using my service!

Send 0.200 Steem or 0.200 Steem Dollar and the URL in the memo to use the bot.
Read here how the bot from Berlin works.

We are happy to be part of the APPICS bounty program. APPICS is a new social community based on Steem. The presale was sold in 26 minutes. The ICO will start soon. You can get a account over our invite link: https://ico.appics.com/login?referral=1fRdrJIW

@resteem.bot

Banks and fiat are dying as people fed up with the crooks and paying big % interest rates for overdrafts, dollar is now worth 92% less than it was in 1973. Cryptocurrecies taking over as store of value and mass adoption starting.

bitcoin $28k this year, $100k 2020 then price to the moon

Crooked banks???? who'd of thought???? Hahaha the sweet Irony!!

Problem is......do bankers ever go to jail?