Post
Topic
Board Economics
Re: Fiat banks and the government.
by
Coyster
on 04/12/2021, 20:35:11 UTC
I think most banks has their own policies and the government has nothing to do with accounts that they block or restrict due to crypto transactions. As for me, they're just trying to control fraudulent transactions. However, there are also trusted banks that don't do account blocking and liquidate crypto transactions. I think we should only pick trusted banks.
I don't think you quite understood the OP, and mind you that banks are accountable to the federal government through the central bank, and take direct orders/policies/sanctions from them, it's not a case of reputable bank or not, there is actually nothing like that, every bank goes through rigorous scrutiny before they become established and once the required standards are met, then they are free to operate and are safe, secure and reputable. Having said that, banks aren't arbitrarily making decisions to block accounts related to crypto transactions, they actually do not even have the sole power to do so, they are taking the instruction and directive from the government through the central bank which they answer to. If Indeed the banks are trying to curb fraudulent txs, then why does it have to concern Bitcoin, all of this is just a calculated effort to discredit Bitcoin and make it difficult for people to purchase it.