Brussels bank closes cryptocurrency traders bank account

Belfius headquartered in Brussels, Belgium is the latest bank alleged to target individual cryptocurrency traders. On the 24^th of February, a cryptocurrency trader uploaded a post on a cryptocurrency Facebook group showing a received letter. He claims is coming from the bank giving him a 2 months’ notice to close his bank account.

A cryptocurrency trader resident in Belgium recently posted in a cryptocurrency Facebook group. He is showing his frustration towards the way Belfius bank in Belgium treated him for trading cryptocurrencies.

According to the letter received by the trader, the bank informed him to close his account with them as they no longer want him as a client.  The letter also provides him with a 2 months period to close his accounts.

The cryptocurrency trader said that he contacted the bank. He explained to them that he doesn’t carry out any illegal activities. He then also tried showing them proof of the source of his money but was told by the bank that “they don’t care if it’s legit or not”.

“They’ve noticed my deposits and withdraws from and to my Kraken account and wanted to do nothing with us anymore. When I showed them all the certificates and proof to the source of my euro, they literally told me they simply don’t care if it’s legit or not”

This letter does not directly link the suspension of the account to a cryptocurrency related trades. Other group members also claim they have had no problem dealing with the bank.  It has, however, sparked anger within the community. Many have taken to the bank’s Facebook page to give them negative reviews and a 1-star rating. They expressed their dissatisfaction towards the actions of the bank.

The action of the bank is coming at a moment when Bank of America has declared cryptocurrencies as a threat to their operation. While state bank of India says blockchain could render banks non-operational by 2030.