Quote from: Xester on February 15, 2017, 11:08:12 AM

Quote from: Payment21 on February 14, 2017, 06:50:45 PM

This article claims that over 36 bitcoin exchanges have closed shop around the world, since October 2015, due to discontinuation of banking services to them.

Is it that commercial banks have conspired to make it difficult for bitcoin startups or they are just trying to abide by the present laws and regulations?

http://www.forbes.com/sites/rogeraitken/2017/02/12/bitcoin-or-bust-taking-british-banking-out-of-exchanges/#1e942876588e

Given the fact that bitcoin is legal in UK the banks has now refused to offer services to exchanges hampering bitcoin uses in UK limited to few number of citizens. It is now reported that bitcoin can no longer be useful to the masses in UK when they can no longer convert their bitcoins to fiat. The reason probably that led to this is the banks are losing profit due to increasing number of people placing their savings on bitcoin rather than on banks. The banks probably feels the pressure and threat brought by bitcoins thus to stop the competition it is the best choice for them to discontinue banking services to bitcoin exchanges.

The usage of bitcoins are really a threat to the country's economy . Banks are regulated by the government and what all decisions bank takes is the government's decision.If people started to use bitcoins , government wont get income tax.In my opinion its not the banks but the governments are trying to get rid of bitcoin usage.