Why do you think that the banks don't allow cryptocurrency?

[Stardom22]

The main reason for that is that the cryptocurrency is very volatile and the Market concerns for the crypto currency seems to be a very big problem.

 

[mrki444]

Banks are responsible for their clients in some way so they don't allow anything what they can't control. Also if they borrow money to client and client lose it in crypto trading, how they will charge it back?

 

[King Belieal]

It is simple. Crypto is not accepted by the government of the country. The bank would accept dollars because the government accepts it. But would not accept crypto simply because the government has not accepted it.

 

[kerryjoy]

I think because it is very unstable, and there values change time after time

 

[Suba]

Almost some central banks in the world prohibit crypto, because no one controls crypto, although it is possible that banks accept crypto as savings like crypto wallets, but do not also allow it as a medium of exchange.

 

[Fidelia]

The banks don't allow crypto transactions because the way crypto is built, it is meant to bypass all central regulations and control which the bank system is built on.

 

[Stardom22]

I think the central banks hadn't really accepted the crypto currency because it's hardly regulated or controlled in whatever way.

 

[Nomad]

In many countries where crypto is legal and is regulated, banks allow uses to buy crypto and even receive crypto deposit (but it will be deposited ad equivalent fiat currency)

 

[Trush Jodie]

The banks don't allow crypto because there is supposed to be just one fiat currency being accepted in an economy.

 

[Augusta]

Yeah the government doesn't even accept it in my country so definitely the bank would do same

 

[magnus2022]

The banks don't allow crypto transactions because the way crypto is built, it is meant to bypass all central regulations and control which the bank system is built on.

You are absolutely right! Cryptocurrency is indirectly liberating masses from the strangulation of government policies, bank charges and government unending taxation.

 

[eLdavis]

Crypto is beyond their control, so I guess there is no need in having things they can't control to prevent any issues in the future.

 

[riberet19]

It's easy, cryptocurrencies are the competition of their archaic and limiting banking system, that is why they do not accept cryptocurrencies, but they do invest in it behind the scenes to get rich.

 

[Xtynehappy]

Banks work with governments and the fact that they don't allow cryptocurrency as a medium of exchange it's because the governments are against the use of the cryptocurrency as a legal tender