Title: Why banks block cryptocurrency transactions - Decrypt
Headings: Why banks block cryptocurrency transactions
Why banks block cryptocurrency transactions
Some banks still won’t touch Bitcoin or other cryptocurrencies, either for legal concerns or because dealing with the risks isn't worth the effort.
In brief
For some banks, it’s illegal to process crypto transactions
Can a country actually ban Bitcoin?
“Some of the larger banks just frankly found it easier to say ‘no’.”
Banks don’t want to deal with angry customers...
...or illegal money-laundering by bad ones.
For banks, crypto just isn’t worth the effort
Banks holding Bitcoin validates digital assets, says Binance.US CEO
“Some [banks] are concerned with reputation, while others are nervous that the user would not be able to pay.”
What to do if your bank has blocked a crypto transaction.
Banks block money sent to crypto exchange Kraken

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Even in jurisdictions where cryptocurrency is legal, some banks don’t want to deal with angry customers requesting chargebacks from some crypto-related Ponzi scheme, and don’t think it’s worth the effort. “ Some consumers may not understand the whole risks of crypto,” said Perry. And banks don’t want to foot the bill for poorly-informed customers—cheaper to side-step crypto altogether. Crypto is also volatile. “ There is volatility to purchasing, say, 0.2 Bitcoin on a credit card and then the price drops,” Perry explained. Customers may think they’ve been induced in some way, he added; that could prompt them to “challenge that transaction with the credit card company, based on certain criteria that credit card [companies police] when it comes to those types of disputes.” ...or illegal money-laundering by bad ones.