US Banks Start Closing Buyer Accounts Caught Utilizing Bitcoin

It seems that the crackdown on cryptocurrencies corresponding to Bitcoin has begun, with US banks closing down accounts of anyone caught utilizing them. 

Lakestone Financial institution and Belief buyer Jordan Spencer posted a letter he obtained on Fb, wherein the financial institution threaten to shut down his account after they caught him utilizing Bitcoin.

In response to the letter (pasted under), Spencer has been using the broadly in style Coinbase web site to make cryptocurrency purchases and deposits tied to his private checking account.

This, says loss prevention officer Louise Vermillion,  is a coverage violation that must be “discontinued instantly.”

The complete letter from the financial institution has been made out there under:

The response, based on Spencer, was swift and brutal, with scores of customers taking to the financial institution’s ranking web page and pummeling it from its earlier three.5 ranking rating on Fb to 1.1 in lower than seven hours:

Apparently, as is usually the case with governments and banks, they’re the one ones that know what YOU ought to be doing with YOUR OWN MONEY. And so they’ll shut down your account if that’s what it takes to ensure you’re protected.