Post
Topic
Board Economics
Re: Cryptocurrency companies still can’t open bank accounts
by
Argoo
on 26/05/2019, 09:15:14 UTC
Despite the increasing legitimate cryptocurrency uses, its continued association with illicit activities and anti-money laundering compliance costs makes banking for cryptocurrency companies hard.

Read more here: https://www.unblock.news/news/cryptocurrency-companies-cant-open-bank-accounts
In order for banks to serve cryptocurrency enterprises and open accounts for them, banks' desire alone is not enough. They work hard on instructions from the government and relevant government agencies, and if the instructions do not clearly indicate what to do if someone wants to open a cryptocurrency account, they will not do it because their initiative will result in major penalties for them . Therefore, the issue is primarily in the legalization of cryptocurrency states and the adoption of relevant laws and regulations.