Slovakia: During the last month, Slovak banks closed accounts of all companies associated with crypto-currencies. On the basis of available information, similar activities were also conducted in the Czech Republic and about six months ago in Bulgaria.

According to a source from the banking sector and who preferred to remain anonymous, the banks operate on the initiative of the regulator - the National Bank of Slovakia. The central bank sent a confidential letter to the banks, urging banks to close accounts related to crypto-currencies.

According to available information, the National Bank urged banks not only to close the accounts of existing companies related to crypto currency, but also not to open new accounts for crypto companies. The banks called for strict observance of the instructions of this regulator.

Closure of accounts is carried out unilaterally the termination of the contract, in accordance with the agreed terms and with the notification and justification of the "commercial decision of the bank."

Banks that closed accounts to crypto companies include at least Slovak Sporitelna and Fio Bank. Banks that last month refused to open accounts for companies associated with crypto-currencies: OTP Bank, Prima banka, Privatbanka and Oberbank.

This is an obvious step back, only emphasizing the need to move to a parallel financial system that does not depend on state-regulated banking services.

Slovak crypto companies are looking for a business model that is not dependent on the banking system or jurisdiction in which banks and regulators value their customers and welcome the growth of well-being.