• Across the globe, it remains common for crypto users to have their bank accounts frozen and transfers blocked, even as institutional adoption rises. • Panos Mekras, co-founder and CEO of blockchain fintech Anodos Labs, began dealing with crypto in Greece in the late 2010s. • Most Greek banks didn’t allow transfers to crypto exchanges back then. • Mekras experienced blocked card payments until one bank finally permitted his transfers, but first, he was questioned to ensure he understood he was interacting with a “risky” counterparty. • Mekras told Cointelegraph that those early rejections are symptomatic of how banks treat digital assets as inherently high risk. • That label often led to account closures or sudden freezes without explanation, ultimately pushing his business to rely solely on onchain tools and payment rails.
Article Summaries:
- Banks worldwide continue to block or freeze crypto‑related transactions, even as institutional adoption grows. Greek fintech founder Panos Mekras recounts early Greek banks rejecting crypto transfers and recent account freezes on Revolut, a UK‑licensed bank that limits crypto activity. A UK Cryptoasset Business Council report found that 40 % of bank‑to‑exchange payments were delayed or blocked, with 80 % of exchanges reporting increased friction. Revolut says freezes are a last‑resort AML/KYC measure, affecting only 0.7 % of crypto‑deposited accounts. As banks tighten controls, users increasingly rely on on‑chain or peer‑to‑peer platforms to move funds.
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