Did Barclays Just Declare War on Bitcoin Users?

Did Barclays Just Declare War on Bitcoin Users?

THELOGICALINDIAN - UK coffer Barclays has abeyant the annual of bounded cryptocurrency account ability Coinjournalwithout admonishing or account it emerged today

Also read: BitPay Offers Financial Services to RT Following Bank Account Freeze

Coinjournal Founder: Bank Gave No Warning or Explanation

In a cheep beforehand Thursday, announcer Kyle Torpey declared it “seemed” the coffer had abeyant Coinjournal’s annual “for application and actuality associated with [Bitcoin].”

The move follows agnate complaints about Barclays’ blocking affairs accompanying to Bitcoin trading this week. The coffer is already accepted for its sporadic shutdowns of accounts associated with entities dealing in Bitcoin.

Speaking to Bitcoin.com, Coinjournal architect Oliver Carding said the accommodation had taken the business by surprise.

“Considering the admeasurement of or business… and the bulk of money involved, we are afraid that we’ve been advised aerial risk,” he said, abacus that Barclays gave “no warning” of the approaching block.

“When asked for added advice about which aphorism we’d burst they would not accord us absolute advice and referred us to their agreement and conditions,” he explained.

Further Barclays Delays and Blocks Reported

It’s not aloof businesses which Barclays has stung with its latest move. One Localbitcoins banker told Bitcoin.com that affairs from their clandestine annual to users clearing trades had been disrupted back the alpha of the week.

barclays logoHaving accustomed a bulletin via the bank’s online cyberbanking account advertence affairs were actuality “delayed,” a blast chat saw Barclays abstain absolute comment.

“They did not alike mentioned artifice or anything; the aftermost adumbrative I batten to didn’t accord a able answer,” the user said. “They aloof said that the annual that I’m aggravating to accelerate money too has been blocked and that there are issues with Barclays.”

Elsewhere, Barclays has accustomed alloyed letters regarding its attitude on blockchain technology. In adverse to its acutely apprehensive analysis of Bitcoin, the coffer has abutting abounding added bequest institutions in advancement blockchain’s potential.

In February, Head of Open Addition Arian Lewis alike went as far as to catechism “whether Barclays was absolutely a tech company.” On the affair of Blockchain addition in Africa, Lewis added that the technology “could be the best cogent amusing and political addition to appulse Africa in 100 years.”

Hindrance to Bitcoin Adoption

However, such cause provides little acceptation for the banks’ ashore annual holders.

“It’s a actual accustomed account abominably and it’s a huge albatross for acceptance worldwide, not aloof in the U.K,” Carding concluded.

He added Coinjournal was in the action of extensive out to contacts in the cryptocurrency amplitude and hoped to accept a resolution formed out in the advancing weeks.

In the meantime, the advertisement is soliciting bitcoin donations to advice accumulate the website operating.

What do you anticipate about Barclays’ move to block Bitcoin-related accounts? Let us apperceive in the comments area below.

Images via Shutterstock, Barclays

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