Swedish banks are slowly and quietly clamping down on bitcoin exchanges

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Despite following the relevant financial regulations concerning anti-money laundering and know your customer rules, Swedish banks have unilaterally begun clamping down on the few local Swedish exchanges by shutting down their bank accounts.

FYB-SE posted this message yesterday in bitcointalk and emailed all their customers notifying them that their bank account would be closed this Friday 14th November.

http://ift.tt/1pSMmiv

BTCX are also having similar problems working with banks, facing the closing of several bank accounts and are also running out of options. They have written about this on their blog.

http://ift.tt/1EESttX

We all know that bitcoin is a threat to the banks and to expect a response, and now we’re witnessing it in Sweden. They are taking an underhanded means which I believe is part of a larger plan to push legitimate, legal bitcoin businesses underground so that they can later claim "see we told you all along bitcoin is for criminal activity".

How can we respond to this?

submitted by bringitalldown
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from Bitcoin http://ift.tt/1zP9wt7
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