Banks are threatening to close your account if you trade on Coinbase
The cryptown user, Jordan Spencer, received a letter from his bank warning him that his account would be closed if he continued to buy and sell cryptocurrencies through the Coinbase site.
Bank "Lakestone Bank & Trust" warned that its account will be monitored and, if such transactions continue, the account will be closed.
Spencer published the letter to a Facebook group for Ethereum dealers to warn others of the possible fines or sanctions.
"We are happy to have you as a customer at Lakestone Bank & Trust and would like to fulfill your banking needs but it has come to my attention that you are making purchases and recieving funds from Coinbase.com - a type of business transaction that is against Lakestone's policies and will need to be discontinued immediately.
We will continue to monitor your account and if we see that these types of transactions continue, we will be forced to take other actions, including closing down the bank account, "the bank wrote.
What is wrong with this bank. Just withdraw all your money from such banks and go to other banks. They will get the taste of their own shit when money will move out from them.
Free market forces will always win! This bank will join the group of banks that go under first. We have to go through this annoyance for a few years, but finally they will have to join the revolution to not disappear.
@bighomie payed 2.0 SBD to @minnowbooster to buy a stealth upvote.
transaction-id ee567cb90264a8b5000f1bc59b83ce0e3004a310
@stealthgoat
Because the letter in the pic looks a bit strange for an official letter by a bank, I thought this might be a hoax. But it seems to be true: https://themerkle.com/lakestone-bank-trust-threatens-coinbase-user-with-stern-letter/
Then I agree with carnelian: Avoid this bank (& others which do the same).