Relevant:
- Global Central Banks Can't Ignore the Bitcoin Boom, BIS Says
- Bitcoin Surges, Emerging From a Lull in Interest
- Bitcoin: What's driving the frenzy (OVER $16k--THANKS FOR THE TRASH TALK, GREENSPAN ET AL?)
- Central banks hope to beat Bitcoin at own game with rival supercurrency
- For Bitcoin, FOMO Is Being Replaced With FUD (Fear, Uncertainty And Doubt)
2013-11-20 — americanbanker.com
With the breakthrough development of digital money, banks have the opportunity to lead the industry once again. Yet instead, banks appear paralyzed about understanding and harnessing this emerging technology. Just as they block and freeze the accounts of competitive money transmitters in the U.S., banks routinely freeze the bank accounts of innocent bitcoin exchanges and consumers, hiding behind the rationale that they are being watchful of and adhering to regulatory guidelines.
Interestingly enough, because of their regulatory status, refined customer identity procedures and global infrastructure, banks could actually brand and offer bitcoin exchange services themselves, quickly becoming the de facto leaders of modernizing financial services.
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