The Real Reason Banks Don't Like Bitcoin
Banks are reluctant to work with bitcoin, that fact has been well known in the community for some time. Until now, though, few concrete reasons have been given as to why. New statements from a senior banking practitioner in Australia working in anti-money laundering (AML) and counter-terrorism financing (CTF), compliance could go some way to providing an explanation. Banks around the world, particularly in the US, have been closing down accounts of bitcoin startups and even bitcoin-accepting businesses for over a year now. Even those that do work with bitcoin businesses are reluctant to be....
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If you were a large bank or another type of large financial interest, and you had finances say, in Greece, wouldn't you potentially be looking for a good way to get them out quickly? Why wouldn't you consider Bitcoin? With Bitcoin, you could buy a large portion of them, and then transfer the money for a fraction of the cost, and then cash it back out into a fiat currency wherever you've sent it. For a bank, this would save a lot of time and money usually wasted on bank fees. For anyone else, it would represent a cheaper way of getting funds out of a dangerous environment. Is there any....
In a talk given at the United Overseas Bank 80th anniversary dinner held on Thursday, Singapore's Prime Minister Hsien Loong advised the country's banks and regulators to explore the advantages and unique applications of emerging technologies such as Bitcoin and its underlying technology, the blockchain. Loong proposed an extensive examination and research of the Bitcoin network's ability to handle real-time settlements and automated verification of transactions and payments. He further emphasized the significance of financial technologies like the Bitcoin network in building strong....
Elon Musk has revealed the real reason he supports the meme cryptocurrency dogecoin. He shared that a lot of people he talks to at his companies, Tesla and Spacex, own dogecoin, noting that “it felt like the people’s crypto.”
Lots of People Elon Musk Talks to at Spacex and Tesla Own Dogecoin
Tesla and Spacex CEO Elon Musk revealed Sunday the real reason he began supporting dogecoin. He noted that many people he talks to at both companies own the meme cryptocurrency.
Responding to a tweet by dogecoin holder Glauber Contessoto, who said the appeal....