Ninjastic
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Re: China prohibits banks providing settlement services to Bitcoin Exchange
by
Omega2513
on 16/12/2013, 11:29:37 UTC
Quote from: seriouscoin on December 16, 2013, 11:04:00 AM
Quote from: John999 on December 16, 2013, 11:02:33 AM
Quote from: Omega2513 on December 16, 2013, 10:49:00 AM
It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin

What reasons do they give when they do that? Is it legal?

Why is it legal or not?

Its their service they can terminate bank acct as they want.

It's more of a grey area when it comes to bitcoin and banks. It's possible they could consider it too high of a risk or the fact that they would lose out on transaction fees.

China banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8

Canada banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8#es_sm=122&espv=210&q=bitcoin+canada+banks