Loading ...Exclusive: SWIFT payments network access cut to crypto exchanges
An extraordinary decision involving the global SWIFT payments network could have widespread implications on cryptocurrencies.
Asia Markets can reveal banks, including New York’s Signature Bank, will no longer process fiat currency transfers to cryptocurrency exchanges with a value of less than US$100,000 via the SWIFT network, effective from February 1, 2023.
The move will thwart cryptocurrency access to potentially thousands of customers. “Please be advised that until we are able to find an alternative solution, you may not be able to use your bank account to buy and sell crypto with USD via SWIFT with a value of less than $100,000 USD.”
https://www.asiamarkets.com/swift-network-cuts-access-to-cryptocurrency/
There is some kind of hidden agenda here.(isn’t there always?)If you wanted to crack down on money laundering, ponzi schemes or make sure everything is regulated and controlled you would either keep things as they are or cut off access to SWIFT for ALL crypto. What is the reason to continue to allow large transactions? They want to facilitate large transactions? You mean those of drug dealers, criminals and Democratic politicians. What the hell sense does it make to have a $100,000 cutoff?
PS: Is that how Hunter Biden(believe laptop contained info on crypto transactions) got paid millions by China and Ukraine for the access to daddy and the classified documents he shared with them?