One of the best signs that a Bitcoin and crypto revolution is here is the mere fact that traditional banks are terrified. One of the perfect examples is JPMorgan – a bank that has been part of our DC Forecasts crypto news site headlines for a long time.
What started with the CEO of the bank Jamie Dimon labelling Bitcoin a “fraud” and promising to fire any employees caught trading crypto – continued with the bank shutting down the account of Kraken which is one of the world’s largest and most secure cryptocurrency exchanges.
A recent Bloomberg report showed that JP Morgan still refuses to bank cryptocurrency businesses. Moreover, JPMorgan is seen blacklisting cryptocurrency startups and refusing to open checking accounts.
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Meanwhile, JPMorgan is working on its own cryptocurrency named ‘JPMCoin’ which is another clear sign that Wall Street is feeling threatened by cryptocurrencies and banks are doing their best to slow down the growth of crypto while stealing its revolutionary technology.
In times when the money laundering excuse is quickly growing old, more and more banks know that cryptocurrencies are threatening their operations – and now we have tons of proof for this.
Since Bitcoin offers an alternative payments system that does not rely on third-party institutions, crypto transactions are faster, more secure and with less fees than traditional systems.
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