Re: Crypto companies complain they’re being shunned by most banks
...yet for every one of those, there are plenty of others trying to scam the public, launder money or evade taxes.
It is not surprising that this above is one major reason that icos won't get financial support from banks. Banks are very shrewd business institutions, they wouldn't dive into a business venture they are not sure of recouping their investment. Icos have been bastardized and banks don't see them as a safe place to put money on. Big banks like citi, jpmorgan, hbsc wouldn't at all. They are eagle eyed banks, always looking for where the money at
I agree. I think, despite the fact that it really puts many cryptocurrency companies in a tight spot, you can't really blame banks for doing that because it's just their way of protecting their interests and investments, especially since we all know that their loss would also mean a corresponding loss to their customers who have chosen to put their money in that certain bank. As we all know, cryptocurrency is still not in the widely accepted status that most people would be comfortable to use or to accept, with such establishments including banks. So, I think that's to be expected. I think we can see better acceptance of cryptocurrency once it becomes more stable in value.