The second largest financial insitution in Spain, BBVA, has in total, frozen 5,000 accounts which belong to Chinese clients. This has led to outrage from the clients, and cries of racism. Bank representatives, however, are claiming that they are following guidelines of anti-money laundering regulations. This is just another in-your-face example that banks can take control of accounts and funds ruthlessly. This would never happen in the cryptocurrency market, where digital assets are fluidly transacted between users of different races, and ages. This is why many people should not be sleeping on having their funds invested in Bitcoin. Banks are of the past, and we are heading towards implementing the future, that is Bitcoin. Chinese bank customers protested outside of BBVA in Madrid. Many were carrying signs that included words like racism and discrimination. Bitcoin does not discriminate, and a person should have the right to access their funds under any circumstance.
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