Not all banks could ban cryptocurrency-related transactions. Like my friend for example, he sees Bitcoin rising and immediately cashed out his profits to his preferred bank. He thought that the amount would reflect instantly to his bank account, so he went personally to them and inquired. The bank teller asked him of his source of funds, and he said “Bitcoin wallet”. So the bank teller went to the supervisor, and then returned and saying that it is not allowed in their banking rules and he was forced to close his account no matter the purpose.

As for me, I am on a different bank in the Philippines and was very crypto-friendly. They even have their first regulated crypto ATM launched in Makati as well. It’s only a matter of time that either these banks would welcome Bitcoin and cryptocurrencies in open arms, or they would be left behind in the trend.