Barclays ban Binance deposits

Type_45

lozzy1965 said:

Type_45 said:

I completely agree with you.  The mistake you've made is to use this forum to discuss the subject.  It's the wrong crowd.

I hold some crytpo (a few grand).  But it's clear to me that the powers-that-be don't like it.  I've been of the opinion for some time that it will be snuffed out in favour of Central Bank Digital Currencies.


Anyone who can't see the way the world is headed right now clearly has issues.  The direction of travel is that we are being more controlled and will have less freedoms going forward.  And it is technology which is enabling this process.  


And if you think being stopped from buying crypto via Barclays is a liberty, think of it as just a taster of what is to come.

Type_45 said:

IanManc said:

I doubt Barclays will miss you.

Not the first time I've noted that you've crossed the line and been unnecessarily rude.  And to a new member, too.

Ha ha, not the first time you have peddled your conspiracy theories either

I agree with the unnecessary rudeness though!

The trouble is, when people with a minority opinion think they are the ones who have the world sussed.  That's when problems start!

You can comment on my statement that "if you have nothing to hide you have nothing to fear" now...

Funnily enough, I've just this minute read the headline:  "EU to exempt Private Jets from fuel tax".

But you still can't join the dots, can you...

Thrugelmir

Mje2020 said:

I would be interested to hear views on the action taken by Barclays. As stressed, this isn't a 'crypto' discussion. This is a question of whether it is acceptable (legal even) for a bank to stop you making purchases of your choice.

It’s not about you. It’s the far wider regulatory concerns of the activity that’s being conducted on the platform. Binance appears to be having issues on a global scale. 

lozzy1965

Type_45 said:

lozzy1965 said:

Type_45 said:

I completely agree with you.  The mistake you've made is to use this forum to discuss the subject.  It's the wrong crowd.

I hold some crytpo (a few grand).  But it's clear to me that the powers-that-be don't like it.  I've been of the opinion for some time that it will be snuffed out in favour of Central Bank Digital Currencies.


Anyone who can't see the way the world is headed right now clearly has issues.  The direction of travel is that we are being more controlled and will have less freedoms going forward.  And it is technology which is enabling this process.  


And if you think being stopped from buying crypto via Barclays is a liberty, think of it as just a taster of what is to come.

Type_45 said:

IanManc said:

I doubt Barclays will miss you.

Not the first time I've noted that you've crossed the line and been unnecessarily rude.  And to a new member, too.

Ha ha, not the first time you have peddled your conspiracy theories either

I agree with the unnecessary rudeness though!

The trouble is, when people with a minority opinion think they are the ones who have the world sussed.  That's when problems start!

You can comment on my statement that "if you have nothing to hide you have nothing to fear" now...

Funnily enough, I've just this minute read the headline:  "EU to exempt Private Jets from fuel tax".

But you still can't join the dots, can you...

Exempt from a new jet fuel tax, and it's a draft proposal.

Oh I see it now!  God I have been so blind!!!

Type_45

lozzy1965 said:

Type_45 said:

lozzy1965 said:

Type_45 said:

I completely agree with you.  The mistake you've made is to use this forum to discuss the subject.  It's the wrong crowd.

I hold some crytpo (a few grand).  But it's clear to me that the powers-that-be don't like it.  I've been of the opinion for some time that it will be snuffed out in favour of Central Bank Digital Currencies.


Anyone who can't see the way the world is headed right now clearly has issues.  The direction of travel is that we are being more controlled and will have less freedoms going forward.  And it is technology which is enabling this process.  


And if you think being stopped from buying crypto via Barclays is a liberty, think of it as just a taster of what is to come.

Type_45 said:

IanManc said:

I doubt Barclays will miss you.

Not the first time I've noted that you've crossed the line and been unnecessarily rude.  And to a new member, too.

Ha ha, not the first time you have peddled your conspiracy theories either

I agree with the unnecessary rudeness though!

The trouble is, when people with a minority opinion think they are the ones who have the world sussed.  That's when problems start!

You can comment on my statement that "if you have nothing to hide you have nothing to fear" now...

Funnily enough, I've just this minute read the headline:  "EU to exempt Private Jets from fuel tax".

But you still can't join the dots, can you...

Exempt from a new jet fuel tax, and it's a draft proposal.

Oh I see it now!  God I have been so blind!!!

What's a daft proposal?

GeordieGeorge

Mje2020 said:

I have never heard of a bank blocking payments to a specific company. Does anybody have examples of this happening before?

Yes, it happens all the time. Western banks will not make payments to companies who have sanctions against them, for example, or who are known to be fraudulent.

As others have said, now that banks keep being on the hook for things they had nothing to do with they are far more careful.

If you want to deal with banks who are less concerned about the risk then a Russian or Somali one would probably let you do whatever you want.

GeordieGeorge

Type_45 said:

lozzy1965 said:

Type_45 said:

I completely agree with you.  The mistake you've made is to use this forum to discuss the subject.  It's the wrong crowd.

I hold some crytpo (a few grand).  But it's clear to me that the powers-that-be don't like it.  I've been of the opinion for some time that it will be snuffed out in favour of Central Bank Digital Currencies.


Anyone who can't see the way the world is headed right now clearly has issues.  The direction of travel is that we are being more controlled and will have less freedoms going forward.  And it is technology which is enabling this process.  


And if you think being stopped from buying crypto via Barclays is a liberty, think of it as just a taster of what is to come.

Type_45 said:

IanManc said:

I doubt Barclays will miss you.

Not the first time I've noted that you've crossed the line and been unnecessarily rude.  And to a new member, too.

Ha ha, not the first time you have peddled your conspiracy theories either

I agree with the unnecessary rudeness though!

The trouble is, when people with a minority opinion think they are the ones who have the world sussed.  That's when problems start!

You can comment on my statement that "if you have nothing to hide you have nothing to fear" now...

Funnily enough, I've just this minute read the headline:  "EU to exempt Private Jets from fuel tax".

But you still can't join the dots, can you...

The problem is that many dots aren’t joined, and so anyone joining them is just drawing what they see in their head.

Conspiracy theorists do at least normally have the sense to never come out and say what they are seeing, or predicting, so they never can be wrong.

In this case, what is it that you think is coming over the horizon, and what do you think fuel tax on jets has to do with it?

Scottex99

GeordieGeorge said:

Mje2020 said:

I have never heard of a bank blocking payments to a specific company. Does anybody have examples of this happening before?

Yes, it happens all the time. Western banks will not make payments to companies who have sanctions against them, for example, or who are known to be fraudulent.

As others have said, now that banks keep being on the hook for things they had nothing to do with they are far more careful.

If you want to deal with banks who are less concerned about the risk then a Russian or Somali one would probably let you do whatever you want.

Plenty of regulated crypto friendly banks in the UK/EU, we send Ms through some of ours every day.

On the point of the OP, it's our money, we should be able to send it wherever we want assuming we shoulder the responsibility of losing it. But Barclays are a business too and can set their own rules so i'm not 100% against the decision either.

GeordieGeorge

Scottex99 said:

GeordieGeorge said:

Mje2020 said:

I have never heard of a bank blocking payments to a specific company. Does anybody have examples of this happening before?

Yes, it happens all the time. Western banks will not make payments to companies who have sanctions against them, for example, or who are known to be fraudulent.

As others have said, now that banks keep being on the hook for things they had nothing to do with they are far more careful.

If you want to deal with banks who are less concerned about the risk then a Russian or Somali one would probably let you do whatever you want.

Plenty of regulated crypto friendly banks in the UK/EU, we send Ms through some of ours every day.

On the point of the OP, it's our money, we should be able to send it wherever we want assuming we shoulder the responsibility of losing it. But Barclays are a business too and can set their own rules so i'm not 100% against the decision either.

I suspect that more and more banks will follow, encouraged to do so by the regulator. Cryptocurrencies are just too opaque for money laundering checks to work well enough.

lozzy1965

Scottex99 said:

GeordieGeorge said:

Mje2020 said:

I have never heard of a bank blocking payments to a specific company. Does anybody have examples of this happening before?

Yes, it happens all the time. Western banks will not make payments to companies who have sanctions against them, for example, or who are known to be fraudulent.

As others have said, now that banks keep being on the hook for things they had nothing to do with they are far more careful.

If you want to deal with banks who are less concerned about the risk then a Russian or Somali one would probably let you do whatever you want.

Plenty of regulated crypto friendly banks in the UK/EU, we send Ms through some of ours every day.

On the point of the OP, it's our money, we should be able to send it wherever we want assuming we shoulder the responsibility of losing it. But Barclays are a business too and can set their own rules so i'm not 100% against the decision either.

Not if we are sending it to a terrorist organisation or some other criminal organisation we shouldn't.

Scottex99

There's a few compliance firms that you can use to run checks on wallets and various other blockchain analysis things. Elliptic and Coinfirm being a couple. 

Also if you're on/off ramping between crypto and fiat you can do the usual KYC/AML checks that you would for any other business.

Still high risk but good fees in it for the banks that feel like they can build infrastructure and regulation around the coins