Manx bitcoin industry reacts to banks affecting success

Thu, 18 Sep 2014

From left: DED's Peter Greenhill; director of e-Business development, financial war reporter for RT; Max Keiser, American digital currencies entrepreneur; Brock Pierce and Paul Davis; MD of Counting House

Banks have attempted to block the adoption of a bitcoin economy on the Isle of Man – but Crypto Valley Summit delegates have found a solution.

As the two-day event kicked off yesterday – attendees were trying to process industry news that banks have severed ties with our newest emerging sector.

Organisations have closed accounts connected to Capital Treasury Services - which links digital currency business to banks on the Island.

Paul Davis is a speaker at the event and the managing director of Counting House, he told us there’ll be a new bitcoin bank to remedy it: