Bitfinex Raises New Questions with Banking Solution
Cryptovest
Published Oct 17, 2018 05:43AM ET
Updated Oct 17, 2018 07:01AM ET
Bitfinex Raises New Questions with Banking Solution
Just a day after Bitfinex announced a deposit solution for fiat, skeptical opinions have started streaming in with warnings of dangers and potentially shady banking practices. One of the suggestions was that Bitfinex would not fully notify banks they are working with a crypto exchange and instead use shell companies and their bank accounts on a case-by-case basis.
The reason is that banks, in general, have been known to refuse services for crypto-related purposes, and the Bitfinex exchange is a special case coming under scrutiny for being related to the Tether (USDT) stablecoin and possible Bitcoin price manipulation.
The most critical Twitter account, Bitfinex’ed, has suggested the exchange may resort to “money mules”:
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