19 Apr '17, 8pm

More Bitcoin Exchanges Fall Victim to Banking Problems

More Bitcoin Exchanges Fall Victim to Banking Problems

Big banks have been known to “de-risk” correspondent banking relationships that are considered high risk for their businesses. It is a common problem. According to the World Bank , “this risk avoidance would typically occur on a wholesale basis, without a case-by-case assessment of the risk associated with individual customers, or the country or region involved, or as a result of an analysis indicating that the business relationship as a whole was no longer profitable.” Therefore, it would not be uncommon for a bank such as Wells Fargo to sever its correspondent banking relationships with other Bitcoin businesses in the same way it did with Bitfinex.

Full article: https://news.bitcoin.com/bitcoin-exchanges-victim-banking...

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