Jump to content

Why did FNB close down Luno and Ice3x accounts?


Recommended Posts

I saw an interesting tweet from Simon Dingle saying it has to do with pressure from JP Morgan Chase.


Here is the tweet: 


Surprising that this hasn't been reported on, but the real reason @FNBSA is closing down cryptocurrency exchange accounts is simple: because JP Morgan told them to. This has nothing to do with AML, and everything to do with anti-competitive moves by a US bank.


FNB is a JP Morgan corresponding bank and JP Morgan has its own blockchain projects. They have a stance against true, decentralised cryptocurrencies like Bitcoin and, like American Express spreading lies about Bitcoin's energy usage, JPM is playing dirty by closing down on-ramps.


This isn't just my opinion. I hope journalists pick up on the real story and confirm it for themselves. This also has nothing to do with the South African Reserve Bank, or the other banks in the country. Just one lapdog doing as its told, and being disingenuous about it.

  • Like 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Create New...