The consumer protection association criticized the Bank of bitcoin trading block

The consumer protection association criticized the Bank of bitcoin trading block


From Israel to Australia, the world of commercial banks are trying to prevent people from entering the bitcoin market, because they stop bitcoin transaction transfer of funds. Now, Portugal’s largest consumer association has convened a local bank to do the same thing.

The Bank of Santander

The Portuguese Consumer Protection Association of Santander bank’s behavior against spain. This is the fourth largest bank in portugal. Previously, the Portuguese customer report the bank is to prevent banks and bitcoin exchange related accounts. The association has been confirmed, although there is no known legal basis to support its behavior, but the bank still in this way.

Deco Company was founded in 1974, is an independent non-profit charity. It is Portugal’s largest consumer association, and enjoy the public status. I hope it can help customers to position the Bank of Santander change to the bitcoin exchange transfer policy.

Bank of Portugal

In an attempt to transfer to Estonia from the Bank of Santander in the Coinbase bank account and was rejected after a Deco colleague asked why banks need to block a deal. In the first to avoid this problem, the bank finally answered did not allow this, it is because of an unregulated virtual currency related.

The Consumers Association has determined that this action has no legal support in Portugal or EU law.

Portugal’s central bank said the Bank of Portugal, the country did not establish a regulatory framework for virtual currency trading platform, its regulatory activities do not include the associated with the practical operation of the action. In essence, this means that the central bank has not issued any guidelines to the bank not to approve bitcoin trading account transfer. In addition, there are at least NovoBanco of a commercial bank of Portugal said Deco of these business, there is no limit.

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