Jack Mullers, CEO of Bitcoin (BTC) payment application Strike, accused JPMorgan of closing his bank account without explanation on September 2nd.
“It was strange. My father has been a private client there for over 30 years, and whenever I asked why, he always said the same thing: ‘I’m not allowed to tell you,'” he said.
Mallars also shared a photo of a framed letter, just like the one the nation’s largest bank authority sent him.
JPMorgan’s letter states that “concerning activity” was detected during a routine review of the account. Based on the Bank Secrecy Act, US regulations against money laundering. The company also emphasized its commitment to regulatory compliance and “the integrity of the financial system.”
Marat, Bitcoin promoters, influencers within the ecosystem, Supported by Tether CEO Paolo Ardoino and otherssaid, “I think that’s the best.” In other words, his comments serve as support because they align with Mallards’ idea that traditional banking cannot be trusted.
This closure is also not surprising within an ecosystem that has been going on for years. Condemns bank pressure on companies in digital asset industry As reported by CriptoNoticias, it’s being done under what’s being called “Operation Chokepoint 2.0.”
However, these actions amount to free promotion of an asset called BTC, which can be operated without permission, is resistant to censorship, and is not subject to intermediaries who can freeze or close accounts.
For the Bitcoin community, this situation confirms why Bitcoin was created. That’s because it provides a financial alternative that also works with Bitcoin. If the bank decides to exclude the customer without any explanation.
(Tag Translation) Bitcoin (BTC)
