Opening a Bank Account is Still A Hurdle for Crypto Startupsby@leah-mathieson
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Opening a Bank Account is Still A Hurdle for Crypto Startups

by Leah Mathieson2mApril 25th, 2020
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Germany has introduced a Crypto Custody License to provide custodial services for crypto firms and startups. Many crypto startups are struggling to open a bank account due to a lack of trust in traditional banking institutions. Traditional banks have largely maintained a blanket ban of crypto, a position that has been criticized for slowing the growth in the sector. Digital currencies have long been plagued by their association with illicit activities since they first appeared on the scene a decade ago. There’s no doubt that stringent ‘Know Your Customer’ compliance and monitoring processes are critical.
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Leah Mathieson

Leah Mathieson

@leah-mathieson

Writing about law, Wall Street, VC & startups.

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Leah Mathieson@leah-mathieson
Writing about law, Wall Street, VC & startups.

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