The Real Reason Banks in UK are Banning Bitcoin | Peter McCormack

In your neck of the woods the UK Chase Bank just banned Bitcoin for all clients Does that scare You not hugely because I know I I Suspect I know what it's about So a lot of there's a lot of issues with Banks in the UK and getting to buy Bitcoin slash crypto in your world right And they think they hate on the banks They're like why are the banks doing This but this is really the fault this Is primarily the fault of the government So the government has pushed Surveillance And crime fighting into the hands of the Banks they're like we're not going to do It because we got no money and we're Idiots we're going to make the banks do It and so every single transaction They're forcing the banks to to monitor These and you know is this could this be A crime could this be some form of Moneya laundering and the problem is I I Don't know the exact rules but there's Certain rules where like there's Clawbacks over a certain period and I'm Going to imagine without seeing it Chase Have just said there's why there's no Point not supporting this if we support It this is high risk and we're going to Be the ones who are going to be caught With the the clawback or what whatever It is this by the way this is without me Knowing the details but this is my

Suspicion and they've just said we're Not going to do this but this is you the Problem with buying crypto and Bitcoin In the UK is entirely down to the Government and the government policy you If the government changed their policy Um but it's just the banks have the Government has made it such high risk The banks some of the banks are like We're not going to touch this what's the Point it's a bit like I own a bar Right and if somebody turns up drunk we Don't let them in because they're high Risk yeah look they're going to come in And they're already drunk they're going To be doing shars drinking cocktails Spending a shitload of money but they Also might vomit in my club or they Might start a fight so we just don't let Them in even though they're financially They're good customers crypto people Might be customers but there's such high Risk for the banks the banks are like this I don't want to deal with it So I would blame the government be sure To click subscribe we drop a video every Single day keeping you informed about Crypto