Recent #bank posts:

  • Banks in India: If you use Bitcoin your account will be closed Reports in the social media show that banks in India are threatening to close their accounts with Bitcoin and other cryptocurrency customers. This move is the latest step in the banking sector in a country where cryptocurrencies seem almost forbidden. Measures to contain Bitcoin On Friday (January 11, 2019), Morgan Creek founder and partner Anthony Pompliano released a tweet about the recent move by Indian banks to prevent Bitcoin trading. Banks warn their clients not to trade cryptocurrencies, otherwise they risk closing their accounts. The announcement even stated that banks do not need to send any further correspondence prior to the liquidation of client accounts. Pomp's Tweet came straight to the Twitter user, CryptoGirl, who commented on the situation as follows: INDIAN BANKS, WHO NOW REFUSE OUR CONFIRMATION BY RESERVING THE RIGHT TO CLOSE OUR ACCOUNTS WITHOUT ANY OTHER ANNUNCIATION WHEN WE ACT WITH # CRYPTOVER TRANSACTIONS. THE ABILITY TO DECIDE WHAT WE MAKE WITH OUR OWN MONEY IS THE REAL REASON WHY WE MUST INVEST #buidl & BELIEVE IN #bitcoin-there are also reports of similar news at Kotak Mahindra Bank. According to CryptoGirl, the bank has even put its threat into action. In an update, the bank issued a notice on the closure of cryptocurrency transaction accounts. Bitcoin is almost forbidden Unsurprisingly, the reaction to social media triggered outrage, as many claim that bitcoin is already almost banned in India with this action. In 2018, the Reserve Bank of India (RBI) banned banks to facilitate crypto transactions. India's Supreme Court will issue a final ruling on the RBI crypto-currency ban in September. A coalition of stakeholders questioned the decision and the matter remains unresolved for the time being. The government did not respond in October 2018 to a Supreme Court term. Before official regulations are available, the banking system in India is trying to stem the crypto trade. Since the government does not adopt a definite attitude towards cryptos, the RBI ban remains the de facto regulation in the country. #btc #bitcoin #news #india #bank #ban