Why many banks hate cryptocurrency ?

[Abdee]

in my opinion maybe because the presence of crypto currency would make the government bank not get tax from the holders of crypto currencies, and in my opinion only government banks are afraid of the presence of this crypto currency

[zenbook]

there are some things that make banks strictly forbid to engage in bitcoin let alone the current crypto industry. I think this is very natural, because banking is the basis of fiat currency. the problem is not to hate but to ban only. I think that's it.

[Aastha Madaan]

The main goal of cryptocurrency is go replace fiat money. That means there will be digital money and no real money. Then the banks can't process it. The central banks will have no clue about the trace of the money. So they feel threatened by it.

[dekafee79]

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin?

Because For now many investor prefer to invest in crypto currency than bank.  It is more profitable and will be more popular at the coming future

[VirtualBtc]

Many banks hate bitcoin because they don't get any profits from the cryptocurrency trading and transactions. Otherwise they cannot control the bitcoin over fiat money.

[Irish]

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin?

Why do you think that banks hate crypto? As I know XRP is the coin that belongs to banks. They use it and gets a lot of money from it, they can't use the cryptocurrency in their system because there is no such law, they will immediately will start to use it in their system but only if government will make the crypto as a payment method.

[Nautilus]

As far as I know cryptocurrencies can surpass the banking sector. Since they are aware of the situation, they don't like it.

[Danus]

in my opinion, banks do not like cryptovalbt, because it is a serious enough competitor for banks

[Arybes]

In my opinion, only government banks that are afraid of the existence of this crypto currency may be because the presence of crypto currencies will make the state banks not get tax from holders of crypto currencies.