Why many banks hate cryptocurrency ?

[ayuaja]

Some crypto experts feel that the London Bank can lose its iconic status as a global financial center if banks cannot manage to keep up with the current flow of cryptocurrency in the city. They claimed that this main barrier was at the foot of the banking system, especially the dominance of the big banks in London and their reluctance to embrace cryptocurrency.

[pelana vreo]

I think the presence of crypto as an online payment system makes banks hate crypto, there is no third party and is really managed by someone who wants to make transactions, faster and safer.

[napster]

Cryptocurrency can surpass all the banks with one flip. It comes with the ability to eliminate the middle man at all transactions between individuals, which can be re-phrased as cryptocurrency can eliminate banks easily. They both are opposites of eachother.

[Raboni]

Not all banks hate bitcoin.
Some love bitcoin but because of volatile reason they got afraid.
It is not easy to earn money for blood and body requires in order to have it.
Banks knows that they must maintain and secure the money of their investors.
Probably banks and not yet ready to mingle with crypto.

[May]

crypto's presence as an online payment system makes banks hate crypto, no third party and really managed by someone who wants to make transactions, faster and safer.

[mamun777]

Banks detest digital currency since they are being danger by the capability of cryptographic money together with the blockchain innovation to the advanced world, particularly in the business, saving money benefits in particular. Hence it isn't shocked that banks could cooperate to remain the conventional and money related innovation point of view of managing an account.

[kamal420]

Bitcoin are slowly being familiarize and introduce all over the world they are attracting more users and customers because of their advantages and benefits that they can provide from us. That's why central banks are being alarmed on what are happening actually they didn't hate cryptocurrency they are afraid on it. Cryptocurrency for them is a big threat for them because it is their conpetitor and tgey are afraid to be replace by digital.

[trauchot]

So far, many banks do not want to mess with cryptocurrency because of dirty money which are simply an incredible amount, so if cryptocurrency will be legalized, then banks will have no choice how to start cooperating with cryptocurrency.

[yousufatik20]

It is obvious. Banks better than others understand how much the blockchain could be a strong and powerful player in the financial market.
They understand that it will take very little time, and the cryptocurrency will take from them the lion's share of all theirs incomes.
For this reason most banking organizations are against cryptocurrencies.

[bdamenaakter]

"Banks" do not have enough or no incentive "to link themselves with bitcoins and crypto currencies because of fears of being involved in related illegal activities," said Executive Director of Credit Suisse. Chief Financial Officer of ING also voiced fears about the crypto currency, saying that although digital assets are an effective medium of exchange, the bank does not recommend clients to invest in them. While TD Bank is actually trying to block the purchase of bitcoin.

[Rektymz]

Banks have adopted blockchain technology, I think it will not be long before you will adopt crypto, but some regulations may be changed, now we can see new projects, cryptobank on the eos and ethereum platforms, maybe other banks in the world will do the same.

[adterna]

We know that cryptocurrency is a very advanced technology, I think for cryptocurrency it is very easy for us to transact wherever and whenever, even transacting between countries does not require a long time, whereas if we use a lot of services, it takes time and rules, and that makes it very difficult transactions, so that people use crytocurrency more

[carcas]

I don't know how many banks hate cryptocurrency. maybe business competition? but if the bank uses blockchain technology such as crypto, maybe all banks will be helped to transact.

[Theroyals]

Because cryptocurrency can be the growth of the current growth of the bank. If the cryptocurrency is already a common payment tool used in the community and becomes an option for investment. So that the product of the bank will decrease its enthusiasts. Because it will be a lot of using cryptocurrency that is very easy to use and without administrative costs such as in the bank. And if it happens then the bank will lose control of the investment funds stored in the bank and switch to cryptocurrency. Which will cause the inclusion of the bank reduced.

[Yahud]

The bank doesn't like Crypto because I think Crypto is a rival. so it's natural if they don't like it, they fight over customers