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Bitcoin Dealer Plays Cat and Mouse With Banks Closing Accounts

  • Finnish company Prasos has had four accounts closed, one left
  • Closures followed ten-fold transaction volume growth in 2017
Bitcoin Claws Its Way Back
Photographer: Chris Ratcliffe/Bloomberg
Updated on

One of the Nordic region’s biggest Bitcoin dealers, Prasos Oy, has one lifeline left.

The company exchanges cryptocurrencies into euros, and relies on banks to help it with those transactions. But banks are increasingly saying no to Prasos and firms like it, for fear of getting into trouble with anti-money laundering rules. Prasos says it’s now waiting and hoping regulators will set clear guidelines that allow it to continue doing business.