BAD news for crypto: SWIFT will no longer process transactions less than $100k to crypto currency exchanges

[shiv]

 

[ChingChongDingDong]

They misspelled billions.

 

[shiv]

Nevermind. Seems like it might be mostly a bullshit claim

 

[ChingChongDingDong]

Fuck you fake news bastards.

 

[shiv]

Fuck you fake news bastards.

It’s all the damn Ching Chong’s at AsiaMarkets.com

 

[VosFrost]

Nearly impossible for SWIFT to enforce.

They primarily operate off the 8 / 11 digit SWIFT code. If big banks are banking these clients - and they are starting too - they’re going to piss off their key bank members when they are massively under threat from hundreds of other disrupters.

To enforce such a measure, they’d have to start having filter against beneficiary account names(field 59) and will create massive administrative/ operational work.

No way they follow through if this is accurate.

 

[shiv]

Nearly impossible for SWIFT to enforce.

They primarily operate off the 8 / 11 digit SWIFT code. If big banks are banking these clients - and they are starting too - they’re going to piss off their key bank members when they are massively under threat from hundreds of other disrupters.

To enforce such a measure, they’d have to start having filter against beneficiary account names(field 59) and will create massive administrative/ operational work.

No way they follow through if this is accurate.

^this guy SWIFTS

Spoiler

thanks for the feedback. Turns out the claim was bunk

 

[VosFrost]

^this guy SWIFTS

Spoiler

thanks for the feedback. Turns out the claim was bunk

Unfortunately, required to SWIFT

 

[MalO]

If I understand it correctly it prevents poor people from buying crypto?

It's coming in the wake of that Davos meeting. I'm guessing they're all going to buy into the new fedcoin or whatever crypto is going to be used in the new financial system. They will get deeply entrenched as super-wealthy in the new currency and buy it up at dirt cheap launch prices before it rises in value and they let the poors in.

I hate them so much.

 

[shiv]

If I understand it correctly it prevents poor people from buying crypto?

It's coming in the wake of that Davos meeting. I'm guessing they're all going to buy into the new fedcoin or whatever crypto is going to be used in the new financial system. They will get deeply entrenched as super-wealthy in the new currency and buy it up at dirt cheap launch prices before it rises in value and they let the poors in.

I hate them so much.

That’s essentially what it would have meant, but it’s not the case. I think one bank had an issue with binance, someone screencapped an error message, and some random website published an article infinitely over exaggerating what was going on