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RE: Paypal, Credit Cards and Banks Just Shot Themselves In The Foot In 2019

in #crypto5 years ago

I've had two banks warn me over using my accounts for crypto. They have their reasons - mostly citing anti-terrorism / money laundering laws. They might have alterior motives too - threats to their ability to tax the economic activity of citizens. The more people that get economically unpersoned by the banking system, the more call for citizens rights for access to money. Also, I rebel a bit by using cash frequently. It's a bit of a quiet war for sure.

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You see terrorism and money laundering laws I just cant understand why they would say this when clearly fiat has been used for hundreds of years for this same exact thing. Honestly crypto has a better trail to follow then fiat lol

Well, you and I know this. I did offer to show them full transaction histories on block explorers but, that's not good enough apparently.
In my country the banks, at the request of the government, are cracking down on cash transactions too.

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