It appears that the crackdown on cryptocurrencies such as Bitcoin has begun, with US banks closing down accounts of anybody caught using them.
Lakestone Bank and Trust customer Jordan Spencer posted a letter he received on Facebook, in which the bank threaten to close down his account after they caught him using Bitcoin.
Shtfplan.com reports: According to the letter (pasted below), Spencer has been utilizing the widely popular Coinbase website to make cryptocurrency purchases and deposits tied to his personal bank account.
This, says loss prevention officer Louise Vermillion, is a policy violation that needs to be “discontinued immediately.”
The full letter from the bank has been made available below:
The response, according to Spencer, was swift and brutal, with scores of users taking to the bank’s rating page and pummeling it from its previous 3.5 rating score on Facebook to 1.1 in less than seven hours:
Apparently, as is often the case with governments and banks, they’re the only ones that know what YOU should be doing with YOUR OWN MONEY. And they’ll shut down your account if that’s what it takes to make sure you’re protected.