Quote:
Originally Posted by edgeprod
Can you cite specific banks, press releases, news articles, etc? If so, this is incredibly timely and relevant to many of us here. My bank (Wells Fargo) as well as brokerage assist me with moving in and out of different accounts, with full knowledge that it's for cryptocurrencies.
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Well specific to bitcoin exchanges there's lots of press about them having lost accounts, but this is generic bitcoin exchanges for 3rd parties no one knows what they do:
http://www.forbes.com/sites/kashmirh...bank-accounts/
Regarding non-exchangers, personal accounts, I know from some banking people that bitcoin transactions had to be "flagged" or reported, not remember the term it was used, this was for USA sometime in 2013. These practices, different for each bank, may change and standardise with the time.
Also note the fact you can't chargeback on bitcoin it can give also issues in ecommerce for refund i.e. user buy your service with bitcoin then asks refund in fiat cash, uses you as a money exchanger letting you money launder for him:
http://pando.com/2014/01/10/the-chal...ccept-bitcoin/