Time For Plan Bitcoin? Barclays to Close Certain Cypriot and Greek Accounts
British bank Barclays has confirmed they will be implementing new requirements for account holders living in certain other parts of Europe, particularly Cyprus and Greece, which have both experienced significant economic turmoil in recent times. The bank's new requirement is a minimum balance of €100,000 for account holders residing in these zones, or else they'll have to find a new solution by September. A representative told the Cyprus Mail that this move is part of an internal risk management strategy established at the end of 2013. We haven't taken this decision lightly and are not....
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Now that Barclays has decided to close down Pingit accounts belonging to Bitcoin sellers, the battle lines between both industries are drawn once again. The war between traditional finance and Bitcoin is far from over the by the look of things, as Barclays has shut down several Pingit accounts belonging to cryptocurrency exchanges. As one comes to expect, Barclays did not even bother to notify the sellers in advance. Barclays Does Not Like Bitcoin Pingit Users. The convenience of Pingit has attracted many customers in the United Kingdom, as all lets bank account owner slink their mobile....
Click For CCN's Greek Article. According to Cyprus News site, Cyprus-Mail, Cypriot police have issued an arrest warrant for Danny Brewster, the CEO of Neo & Bee. Last week, CCN wrote about the insolvency of Neo & Bee midst the suspension of Neo & Bee shares on Havelock Investments. It is now clear that Danny Brewster unceremoniously dumped his portion of his shares onto unsuspecting hopeful Bitcoin investors from around the world. Of course, as the shadowy world of Bitcoin securities is utterly unregulated and money disappears regularly, something that Danny Brewster and Neo & Bee know....
Leading UK Bank Barclay's has denied it will accept Bitcoin later this year as reported in numerous publications including The Sunday Times and Ars Technica. The report stated Barclay's would work with an un-named Bitcoin exchange and that, at first, only charities would be able to pay bitcoins into Barclays accounts. However, CCN received an email from Barclays regarding the reports, and the bank promptly denied any such plans. "Barclays is not accepting or holding any Bitcoin as some outlets have suggested," Barclays' Candice Macdonald, Vice President of Group Media Relations, wrote. "No....
As if everything to do with money is not bad enough, Greeks no longer have access to their PayPal accounts, reports Quartz. Capital controls imposed by the Greek government mean that Greek citizens can only withdraw 60 euros (effectively 50 euros after ATMs have run out of 20 euro notes) and online payment service, PayPal, has been left crippled, as a result. PayPal relies on the traditional banking sector and credit card industry for all its transactions to flow. Announced by a PayPal spokesman today: Due to the recent decisions of the Greek authorities on capital controls, funding of....
"Lots of my friends lost their savings because banks suddenly shut down and nobody would guarantee their life savings. So this was like quite a shock.” European Parliamentarian Eva Kaili’s conversion to cryptocurrency came as she watched her friends lose their life savings in the fallout of the Global Financial Crisis. The crunch came during the 2012 Cypriot financial crisis, when Cypriot banks collapsed and a levy was imposed on many depositors to fund the resulting bailout.Lots of my friends lost their savings because banks suddenly shut down and nobody would guarantee their life....