Why Banks Are Wary of Bitcoin Clients
January 29, 2014 1:16 PM
There's a reason Bitcoin startups have such a hard time getting or keeping bank accounts. Providing banking services to firms that exchange the digital currency requires a higher level of due diligence than banking traditional money services businesses, says Henry Balani, a managing director at Accuity. The anonymous (or pseudonymous) nature of Bitcoin addresses presents higher risk, he says.