A Huge EU Bank Just Ruthlessly Froze People’s Accounts, Sparking Claims of Racism. It Would Never Happen With Bitcoin
Spain’s second-largest bank, BBVA, has aggressively frozen up to 5,000 accounts without warning. Many of the accounts belonged to Chinese clients, leading to cries of racism. The bank, however, claims it was acting on Spanish anti-money laundering rules. Spain’s second-largest bank has apologized after hundreds of Chinese customers accused the group of racism for freezing their bank accounts without warning https://t.co/3in4Wy6F6C — CNN International (@cnni) February 18, 2019 It’s yet another reminder that traditional banking institutions have the power to shut down and block access to your money without notice. This is why bitcoin matters. If stored independently, bitcoin cannot
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