Dutch Bank Rabobank is Blocking Customers from Buying Bitcoins
Editor's note: Marc van der Chijs is a former Dutch serial entrepreneur in Shanghai turned venture capitalist in Vancouver. He lived and worked for over 13 years in China, where he co-founded popular online video sharing site Tudou.com. He is a big believer in bitcoin. It seems banks have started to realize that bitcoin could be a major threat for them. In the US many banks don't accept any bitcoin businesses as clients, possibly because of regulatory concerns and money laundering risks. Individuals aren't free from bitcoin banking issues either. CoinDesk reported recently that a Swedish....
Related News
Rabobank, the Netherlands' third-largest retail bank by market share, blocked its customers' transfers to bitcoin exchanges for 'ethical reasons', according to several first-hand customer reports and bank documents leaked to Dutch news sites. When questioned about the blocks, Rabobank apparently told some customers there were "technical problems" with the transfer, but told others the bank's own internal Ethics Commission had ruled to disallow bitcoin trading. Dutch whistleblowing site Publeaks also published an internal Rabobank document first obtained by another website, Tweakers, that....
Rabobank has a proven track record of supporting innovative ideas, either through partnerships or investments. Financial institutions have a vested interest in blockchain technology, and that become even clearer when Rabobank announced their partnership with NexusLab. This gives the Dutch bank every opportunity to work with distributed ledgers, and ten startups will partake in their very first Startupbootcamp round. Dutch bank Rabobank has been experimenting with blockchain technology for quite some time, and they are currently focusing on four key areas. International payments,....
Many banks hate Bitcoin and are feeling threatened by the new digital cryptocurrency. Coindesk recently wrote an article about Dutch Bank Rabobank. The context was the same as many articles before that have and have not made it to more major media outlets: Bitcoin businesses guillotined by banks around the world. Rabobank has blocked transfers of fiat to Bitcoin exchanges in the past for individuals, not just businesses. Rabobank even had days when all attempted online transfers to domestic Bitcoin Exchanges were met with a technical error. Two websites in the locality have since spread....
Some leaked documents have come forward and have been published on a website called Tweakers from Rabobank - a Dutch bank. Therein, information suggesting the bank blocked customer transactions to Bitcoin exchanges for ethical" purposes. It's a far story from what customers were told when their transactions just simply weren't going through. Reportedly, some were told the reason for the incomplete transactions were technical issues
Multi-billion dollar financial services corporation D+H states that its development team successfully tested its proof-of-concept Blockchain with Dutch financial company Rabobank. Netherlands-based Rabobank, which has an annual revenue of nearly US$15 billion dollars, collaborated with D+H in running the company’s first preliminary tests with Coin Sciences’ proof-of-concept multi chain Blockchain solution. Rabobank and D+H claim to have acquired the evidence needed to prove that their Blockchain solution is able to process cross-border payments in real-time. The two giants in global....