Report: Ireland Financial Institutions Denying Crypto Companies

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Published on :

21 June, 2018

Leading cryptocurrency-based companies claim that some of Ireland's major financial institutions have denied them service.

Among the affected businesses are bitcoin exchange Bitcove, winner of the bank-sponsored “Best Business Startup” award, and Ireland’s “longest running” bitcoin broker, Eircoin.

Several Irish businesses have been forced to either stop trading cryptocurrencies with a few claiming they had their bank accounts closed.

“Particularly disappointing was Bank of Ireland. We were participants on the Ignite startup program, which is backed by the bank. Our business and its progress were reviewed monthly by a panel which included Bank of Ireland representatives. At the end of the incubator Bitcove won the award, but then just a few months later our accounts were frozen and eventually closed,” bitcove.ie co-founder Peter Nagle expressed.

Bitcove, along with Coinbase, are among the two most popular cryptocurrency exchanges gamblers in the country use to link their secure wallets to.

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