Cryptocurrency Q&A
Why do banks block crypto?
Why do banks block crypto?
SsamziegangStroll
Wed Nov 27 2024
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5 answers
1020
I've been wondering why banks refuse to process transactions involving cryptocurrencies. Is it because they see it as a threat to their business model, or are there other regulatory and security concerns that I'm not aware of?
5 answers
CryptoAlly
Fri Nov 29 2024
The nature of blockchain technology and cryptocurrencies poses certain challenges for banks.
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CryptoAlly
Fri Nov 29 2024
Unlike traditional financial transactions, cryptocurrencies do not offer reversible transactions.
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CryptoGuru
Fri Nov 29 2024
This lack of security features has led banks to perceive potential financial risks associated with crypto-related businesses.
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SeoulSerenitySeekerPeaceLover
Fri Nov 29 2024
To avoid these risks, banks have decided to sever ties with such businesses.
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Federico
Fri Nov 29 2024
Cryptocurrency transactions have been blocked by banks to mitigate potential losses.
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