Banks ban Bitcoin buying in Britain

The United Kingdom’s financial world (at least a major part of it) follows the example lately set by American banks. Bank of Scotland, Halifax, Lloyds Bank and MBNA have decided that it’s better to forbid customers to use the credit cards for buying Bitcoin.

Coinbase, a major American cryptocurrency exchange, currently one of the most popular, confirms that the group of the U.S.-based banks (Bank of America, JPMorgan, Citi together with Capital One) indeed had prohibited payments related with exchange. Reasons why at least one of them doesn’t like Bitcoin were previously described by Bitnewstoday in a separate report.

Speaking of banking, illicit finance and tax evasion. The Common Reporting Standard for Automatic Exchange of Financial Account Information might play its role in the future of cryptocurrency cross-border payments. With the efforts of states combined, transactions of transparent cryptocurrencies might become not so state-free after all. If anything cryptocurrency-related happens within the framework of this joint inter-state anti-tax evasion mechanism, Bitnewstoday will inform about this as soon as possible.