Quote from: Clark Anderson on June 05, 2024, 03:39:33 PM

Are banks really against crypto currency?

I think banks are drawn to the efficiency and speed offered by blockchain technology, which can facilitate faster and cheaper transactions.That is why most countries are now adopting and making digital versions of their fiat currency.

I do feel that banks are wary of the regulatory uncertainty surrounding cryptocurrency, as well as the risks associated with its volatility and potential for fraud.

Despite these concerns, many banks are exploring ways to incorporate cryptocurrency into their services, such as custody and trading.

Yes, banks are really against cryptocurrencies even in many countries cryptocurrency accounts are being banned in our country, and my own accounts are also banned for crypto-related payments. The main reason is the cryptocurrency-first service and zero-charge and there is a growing popularity. It is also possible that in the future people will stop using bank accounts altogether and start keeping all their assets in cryptocurrency wallets because they don't have to pay taxes to the government or anyone else to keep their assets here or even if they have to, they will at least have decentralization.

As cryptocurrencies become more popular, people tend to gravitate more towards cryptocurrency wallets and less towards banks, which can lead to a cash crunch in banks. This can also be a reason for banks to dislike cryptocurrencies.