There has been no shortage of members of the banking cartel badmouthing cryptocurrencies.
See my posts here
https://steemit.com/cryptocurrency/@appone/world-bank-chief-says-cryptocurrencies-are-ponzi-schemes
and here
https://steemit.com/cryptocurrency/@appone/senate-hearing-on-cryptocurrency
This post is about the fact that thieves are mostly afraid of other steeling, because humans tend to think that most people are like them, so thieves expect everyone to steal, scammers see scams everywhere they look.
So here is a short list:
1 - Rabobank, a major Dutch bank which last week refused to service Bitcoin businesses due to “compliance risks,” has been fined $369 million for money laundering. As various news resources report, Rabobank was one of the major Dutch institutions outright rejecting cryptocurrency entrepreneurs.
Now, in a case linked to Mexican drugs money trafficking, the bank’s California unit pleaded guilty to conspiracy, being served a multimillion dollar fine but with officials conspicuously avoiding custodial sentences, cryptocurrency industry commentators note.
Full article here: http://bitcoinist.com/rabobank-fined-money-laundering-bitcoin/
2 - HSBC to pay $1.9 billion U.S. fine in money-laundering case
Full article here: https://www.reuters.com/article/us-hsbc-probe/hsbc-to-pay-1-9-billion-u-s-fine-in-money-laundering-case-idUSBRE8BA05M20121211
3 – We all remember Jamie Dimon, J.P.Morgan Chase Chairman, CEO and President stating bitcoin is a fraud:
JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Full Article here: https://www.cnbc.com/2018/01/09/jamie-dimon-says-he-regrets-calling-bitcoin-a-fraud.html
So, here is his bank doing something fraudulent:
J.P. Morgan Chase Will Have To Pay A Fine Of $2 Billion For Laundering
Full article here: https://www.forbes.com/sites/robertlenzner/2013/12/12/j-p-morgan-chase-will-have-to-pay-a-fine-of-2-billion-for-laundering-76-billion-for-bernie-madoff/#22faba644aac
4 - Bitcoin is a vehicle for fraudsters, warns Goldman Sachs boss
Per CEO Lloyd Blankfein
Full article here: https://www.theguardian.com/business/2017/nov/30/bitcoin-is-a-vehicle-for-fraudsters-warns-goldman-sachs-boss
And among many other things:
1MDB Case Hangs Over Goldman Sachs as Investigators Dig for Answers
Full article here: https://www.nytimes.com/2016/12/22/business/dealbook/1mdb-goldman-sachs.html
5 - FBI Says Cartel Used Bank of America to Launder Money
Full article here: https://www.bloomberg.com/news/articles/2012-07-09/fbi-says-cartel-used-bank-of-america-to-launder-money
And
Bank of America to pay $16.6 million to resolve U.S. sanctions violations
6 – WACHOVIA TO SETTLE DRUG-MONEY LAUNDERING CASE
Full article here: http://www.nbcnews.com/id/35914759/ns/business-world_business/t/wachovia-settle-drug-money-laundering-case/#.WoBgz-jwaUk
I can go on and on, but you get the point.
So in light of this:
New Research: Laundering of Illicit Funds Less than 1% of Bitcoin Transactions
Full article here: https://news.bitcoin.com/new-research-laundering-of-illicit-funds-less-than-1-of-bitcoin-transactions/
Why all the crypto bashing from the big banks?
One simple reason: They are afraid of competition. Even 1% of criminal activity eats into their profits and opportunities in that market.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://bitcoinist.com/rabobank-fined-money-laundering-bitcoin/
Your not wrong, they don't care so long as its only them eating at the money trough.
CCN had an article today stating that Bank of America admits cryptocurrencies are a threat to its business model
https://www.ccn.com/bank-of-america-admits-cryptocurrencies-are-a-threat-to-its-business-model/
First they ignore you, then they laugh at you, then they fight you, then you win.
Mahatma Gandhi
Thank you for reading the post
Well, for them to be open about it shows how big they see it as a threat. 2018 will be the year they try to tear down the crypto's using the anti-money laundering as their excuse.
The more time passes the better. Other countries are introducing regulation which is definitely not hostile to cryptos. Look at Japan, Switzerland and now Austria.
The appetite to go all out against cryptos does not seem to be there.
While there will be some ugly regulation shoved down our throats by banks through their patsy legislators, I think the time to kill the entire movement may have passed. This may be especially true if the banks find ways to rig the market and profit from it, which of course they can do.
Do you think they can tear it all down?
De-value and discredit! This has been their first attempt and that has worked to a point, but it's proved the cryptos just bounce straight back. So it's on to round two. Stopping people using mainstream banking to access these services.
Wait and see how far they go with that.
Overall they will keep trying, but all they will do is show they are working against the will of the people!
If that is your picture, I assume we are about the same age. Seeing the way, the young people have embraced the cryptocurrency space and the ideas behind the decentralization movement gives me hope. I must admit I was pretty down on Millennials.
Yep, that's me alright. I think your right they are the ones that have connected with it more. Hopefully, they stick with it and don't get put off by the old school banks.
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STOPnice post