Re: Chase Bank Closes Bitcoin related accounts

Chase also just refused an international wire transfer to BTC-e, claiming that "the government didn't allow it". I'm closing my accounts with them.

many exchanges are getting hit hard by regulations. i have stopped watching exchange price values ages ago as the volumes are so low that they should no longer be used to judge market cap value.

BTC-E use to trade over 100k volume per day last year, now its settles at an average 15k-20k, with hardly any actual bank movements, mostly day trading.

its not just chase bank, so it might be worth looking for other banks and also other methods to also buy-in

The DOJ has been trying to shut down legal bitcon (as well as gun dealers and payday lending companies) companies that are operating within the law but are not doing things that the Obama administration "likes"

i think its more about the fact that dollars are ending up in bank accounts in the british virgin islands and not in the "big 5" banks. (thats my personal belief).
bitcoin itself is not a problem for the world in regards to 'justice'/crimes or terrorism. but when people are sending funds to non US banks, they dont like it much.

the most stupidest think though is that these banks don't realize that the dollars eventually come back (when people cash out). thus its just like buying a bunch of banana's after visiting an ATM. one person hands dollars to someone else, but eventually those dollars end up in a bank account.

The DOJ does not care about where the money ends up. What they care about is the fact that businesses are operating businesses that do not fit with President Obama's political beliefs. They do not like bitcoin because bitcoin allows for people to buy things the Obama administration frowns on (but is still legal) with ease. The DOJ is essentially changing the law without going through congress