So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?
Governments are afraid of losing their tax revenues as they would not be able to trace the bitcoin transactions.So they are keen to ban cryptos.Banks have started to suffer losses in revenues which they got from transactions and remittances.Also they fear that in future people would totally avoid depositing in banks and would just buy bitcoins which would be a huge loss for them.So they ban the accounts elated to crypto trading.