HSBC: Seventh largest bank in the world rumored to be blocking cryptocurrency transactions
Banks and the cryptocurrency world have been at odds ever since the latter emerged a decade ago. From initially shrugging decentralized currency off as a mere distraction, now the disruptive force has irked the banking industry with the seventh largest bank in the world, HSBC rumored to be halting cryptocurrency transactions.
Hong Kong and Shanghai Banking Corporation [HSBC], the British multinational financial services giant is purportedly engaging in blocking all transactions related to cryptocurrencies. According to cited sources the reason behind this “censorship,” is because virtual currencies are “volatile.”