Bitcoin Companies and Entrepreneurs Can’t Get Bank Accounts

“The Bitcoin banking casualty list is a long one: popular Bitcoin – USD exchanges Bitfloor and BitInstant, in New York; Tradehill, in California; and Bitbox, in Michigan, have been out of commission for months. All had registered as money exchangers with the Department of Treasury’s FinCen. Mobile Bitcoin payment company Coinapult moved from Colorado to Panama to avoid the ‘murky, unpredictable, and onerous’ regulatory environment in the U.S.. Capital One even shut down the merchant account for Mulligan Mint, a commemorative coin maker, when it started making physical Bitcoin silver coins; the business was not in fact dealing with Bitcoins, just making fake models of them.”

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