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I just spoke with Chase Bank Global Risk Department rep. This week I had six rejected wire transfers (to Unchained, Strike and Kraken). She told me that they would no longer allow me to wire transfer to these "crypto" platforms and that I have to find a different way to fund these accounts. Operation Chokepoint 3.0 alive and well and tightening at Chase Bank.

Replies (32)

That is crazy! I understand it’s still going to take years before boomers and legacy companies to fully trust BTC, but shouldn’t they at least understand the difference between a BTC-only platform, that offers customers financial services to a digital, commodity asset versus a crypto-exchange platform dealing with 100’s of digital securities by now?…..is it due to lack of education in understanding difference in BTC/Crypto? Or is there still a lack of clear regulations framework for BTC? Or is it just easier to for them to lump BTC in with crypto so that they don’t have to bother learning about or dealing with any of it? To me, it just seems like they would be leaving a lot of $$$ on the table by not being able to pivot and adjust to what their customers want, the way Fidelity and a few others have already done. I’m just a 30 year old dude, who barely graduated high school and has zero experience in finance and/or banking so what do I know? 😅 I genuinely am curious, and would value to hear anyones opinion on this issue. I’m obviously a Bitcoiner, but generally have a hard time accepting conspiracy theories. I tend to believe most people (including politicians and business-men) are rational and make rational decisions, unlike most of my fellow Bitcoiners, 😁…..I will admit though, many conspiracy theories due actually end up true or atleast more true than I initially thought! Studying about Bitcoin has definitely taught me that!
On a personal level, and as a finance director in the bitcoin space I always like to work with bitcoin. It’s better for a bitcoin org/company to receive bitcoin. You never know if a wire transfer will be refused if you want to buy bitcoin. But you sure as hell can belive these filthy bankers will take your bitcoin if you want to trade it for fiat. They want your coins…stack harder! Ditch fiat where you can. Work for Bitcoin. Buy things with Bitcoin. View quoted note →
After answering a litany of questions about trying to wire a large amount directly to Strike and River to fund my accounts there, this go around, I just wired a large sum to my alternate checking account then linked that alternate account to my Strike and River accounts. I then purchased BTC directly through Strike and River. No answering questions from my bank's "security" department. Easy peasey!