Ultra-fast Bitcoin trading website SpeedyBitcoin recently announced to closedown following banking concerns.
The so-called bid-adieu first arrived on Reddit, in which the company mentioned that their banking institution was unable to continue providing services to them, a reason that ultimately led them to the point of destabilization. The notice read:
“Unfortunately owing to continued uncertainty in the crypto-financial market sector, our banking institution has been unable to continue to provide service to us.While their decision is regrettable, it is understandable and the service and support they have provided thus far has always met or exceeded our expectations.”
At some points of time, many Bitcoin businesses have discontinued their operations after citing the similar banking issues. They include the Kraken’s parent company Payward Inc., Charlie Shrem’s BitInstant, Coinabul, amongst many others — all of which have fallen prey to banks’ autocratic behavior in past.
Banking executives though have earlier commented that they simply fear in being in a business relationship with companies that might be further associated with illegal activities. Virtual currencies — Bitcoin in particular — have always been rumored as one of the most efficient tools for conducting online crimes, such as drug trafficking, money laundering, etc. According to some reports, banks don’t even wanna include the name Bitcoin in any of their reports in a hope to elude scrutiny.
SpeedBitcoin Promises Return, Meanwhile
However, SpeedyBitcoin never shied away from raising hopes to return, and said they would be looking for a suitable banking facilities to continue their operations all over again. “We continue to work diligently to obtain suitable replacement banking facilities enabling us to resume our service operation,” the company promised.“Should we be successful in our endeavor, we will notify all clients so keep an eye on your email!”