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

Content: while the Russian government just implemented a bill that will from 2021 ban people from paying for goods or services using cryptocurrency, it is allowing its citizens to buy cryptocurrencies for speculative purposes. “ It means that there will be a legitimate way for you to purchase […] cryptocurrencies from Russian banks,” Anichkin said, so long as you report these transactions to the tax authorities. Banks don’t want to deal with angry customers...
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Clifford Chance
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The Regulation of Cryptoassets
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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.