Janine Grainger announced that in the last week alone, three different banks refused Easy Crypto an account to launch the new product.
According to the businesswoman, some financial institutions believe that no one will oppose their harsh measures and attempts to discourage people from using cryptocurrencies.
“This is a really big problem that the industry is facing – people can’t use bank accounts as they see fit and can’t even open an account,” the Easy Crypto executive is outraged.
Janine Granger is convinced that big banks must come to terms with the inevitable changes that crypto-assets bring to the world of finance and digital innovation. Otherwise, banks miss opportunities and stop being competitive.
Entrepreneur indignant: without a bank account it is impossible to conduct business, so banks should not deny their services to cryptocompanies that comply with the law.
There have already been cases when banks refused to process payments in cryptocurrencies and even warned about the closure of the accounts of customers who continued to make cryptocurrency transactions.
“Unfortunately, it has become common for cryptocurrency users to receive a phone call from their bank as soon as they send a payment to a cryptocurrency exchange.
The bank tells the customer that this exchange is a scam – and that the customer will lose all their money,” Granger says.
In April, Bloomberg reported that seven London banks at once refused to serve cryptocurrency companies.
However, not all countries have such a rigid approach. Last year, the South African Reserve Bank (SARB) urged fellow bankers not to refuse to work with cryptocurrency companies and to assess risks wisely.