Chase Adds New Restrictions on Cash Deposits, Doesn't Get Arrested
Chase have outlined a new policy on cash deposits. Picture via /u/throwwwwaway81. One of the key aspects of the Charlie Shrem and BTCKing money laundering case is that anonymous individuals were able to go to various banks around the United States and make deposits of less than $1,000 to bank accounts owned by BitInstant. BitInstant was not required to collect information on people who wanted to buy less than $1,000 worth of bitcoins per day, and the banks allowed anonymous individuals to make deposits into bank accounts controlled by BitInstant. It seems that Chase is implementing a new....
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Investment bank JPMorgan Chase is stockpiling cash according to the company’s CEO Jamie Dimon. The investment banker doesn’t seem to believe inflation is “transitory” and he thinks there’s a “very good chance” inflation could stick around. JPMorgan Chase CEO: ‘I Do Expect to See Higher Rates and More Inflation’ At the end of April, Bitcoin.com News reported on the Federal Open Market Committee (FOMC) and explained how FOMC members said the benchmark interest rate will be kept near zero. Moreover, members of the FOMC also said the....
This is another clear example of why users should not keep their funds in a bank account. Holding cash is becoming a less favourable option for many customers around the world. Charging fees on cash deposits is becoming the new norm in Germany, and more of them will follow in the coming months. So far, two more banks have taken this route, including the Bank of Ireland and Ulster Bank It looks like the negative interest rates will be passed on to customers who make cash deposits. It was only a matter of time until the negative interest rates would be passed on to the customers. Not only....
Flickr/Fortune Live Media. The CEO of JP Morgan Chase - a major financial institution - has made some, shall we say, controversial remarks on bitcoin. Primarily because he's demonstrated in several sentences he knows very little about it. "It's a terrible store of value. It could be replicated over and over," Jamie Dimon said to CNBC. "It doesn't have the standing of a government." We normally try to stand objectively. But this is complete silliness. Mr. Dimon, do understand bitcoin does not simply get "replicated over and over". On the contrary, that's what happens with the United States....
TORN, the token of Tornado Cash, plummeted by nearly a quarter in the last 24 hours after Dutch authorities arrested a suspected developer for the crypto transaction mixing protocol in Amsterdam on Friday. After the US Treasury added the mixing protocol on its sanctions list, Tornado Cash noticed a significant decrease in deposits and a […]
The Republic of Cuba is suspending the use of U.S. dollars due to embargo restrictions with U.S. and foreign banks. The central bank of Cuba’s restrictions stems from the “obstacles that the U.S. embargo creates for the national bank system.” Cuba Bans USD Deposits, BCC Tells Tourists to ‘Arrive With a Currency Other Than the Dollar’ Cuba, the island country located where the Caribbean Sea, Gulf of Mexico, and the Atlantic Ocean meet, said this week U.S. dollars will be suspended in the country. The mandate comes from the country’s central bank and....