Post
Topic
Board Bitcoin Discussion
Re: Why are banks against cryptocurrency?
by
dzungmobile
on 28/05/2024, 07:39:49 UTC
Let's remember that some banks are slowly adopting crypto currency, or bitcoin.
If they can do this without risk for their business, and if they have no fear of vague regulations, they will not adopt cryptocurrency slowly, but quickly instead. They are adopting it very slowly because they are fearful that governments can knock their doors and sanction them because of transfers related to cryptocurrencies.

That's biggest barrier to prevent banks joining this market but when regulations are composed, approved and enforced, banks will feel safer when they know what they can do without punishments. It will be start of their massive adoption at sharper rate on cryptocurrency.

Quote
In my country, some banks are starting to accept crypto currency services; users may purchase and sell crypto currency assets, which is a good indication that some banks will just find a way to implement and benefit from crypto rather than trying to take it down and wasting their time.
It's good to know what's happening in your country. In the USA, a biggest economy and biggest market in cryptocurrency too, let's see this thread of mine and check what banks are doing, recently.

JP Morgan Chase are participating in 5 categories of cryptocurrency. Jamie lies!

JP Morgan and Jamie Dimon are most famous anti-Bitcoin entities but the thread shows they are silently adopt cryptocurrency while their mouths are still saying oppositely.