Euro Pacific Bank, owned by prominent gold bull and Bitcoin skeptic Peter Schiff , has been shut down by Puerto Rico regulators, citing “violation of minimum capital requirements,” but the bank has been an international fugitive. The focus of the missed investigation.
Peter Schiff has never been optimistic about cryptocurrencies. In the past ten years, he has made negative comments on Bitcoin, and he has vigorously sang that Bitcoin will eventually collapse. However, Peter Schiff at the time probably did not expect that his prediction of Bitcoin would be in the It seems ironic that the traditional bank that I run has been fulfilled.
Two years ago, a joint task force of tax agencies, J5, made up of major Western government agencies, investigated hundreds of Euro Pacific Bank accounts for tax evasion and other financial crimes.
Today, Euro Pacific has been ordered to suspend business and customer bank accounts have been frozen. In response, Peter Schiff insists that the bank has no evidence of criminality, and admits that “customers may lose money.”
Regulatory authorities generally stipulate that banks must meet minimum capital requirements, but Peter Schiff said in response to netizens’ inquiries that he did not know the local regulations, and then argued that Euro Pacific Bank had not received any form of law before it was ordered to suspend business. Notice.
He added, “It costs a lot of money to run a small bank. That’s why I’ve never been making money. Compliance costs are ridiculously high.”
On the other hand, although the cryptocurrency community expressed sympathy for Peter Schiff and the loss of bank customers, it also took the opportunity to explain the importance of Bitcoin in reshaping traditional finance and resisting central government control, and even some netizens bluntly said , ” Do you now know why people need bitcoin? When you create a bitcoin wallet, you are your own bank. ”
