Four out of the five banks that Finnish-based Prasos Oy uses for their business has severed ties with the exchange, citing money laundering fears as the main reason.
Prasos Oy has become a well-known name in the Nordic region’s crypto circuit. The platform relies on the country’s centralized banks to assist in converting their clients’ cryptos into euros. They also run Coinmotion.com and Bittiraha.fi.
#Bitcoin dealer #PrasosOy, has one lifeline left. The company exchanges #cryptocurrencies into euros, and relies on banks to help it with the transactions. But banks are increasingly saying no https://t.co/6BhV1HEK0c#trading #investments #money pic.twitter.com/K3kzbXsTVJ
— Proxima Experience (@ProximaXp) March 9, 2018
Money-Laundering Fears Are the Cause
According to Bloomberg, last year saw a massive blow to business as four of the five banks that Prasos uses closed their accounts with the exchange. The banks in question, S-Bank, the OP Group, Saastopankki and Nordea Bank AB have not directly commented on the closure but did give have some remarks.
Laura Niemi, a manager in the corporate security department at the OP Group, has said that the bank is cautious about the anonymity associated …
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