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France: ADAN pins banks for its relations with the crypto sector


ADAN has published a report on the relationship between the banking industry and crypto-blockchain players.

Relations considered difficult which rub off on the good development of these companies.

The Trust Project is an international consortium of news organizations based on transparency standards.

ADAN

The Association for the Development of Digital Assets (ADAN) recently conducted a survey to assess the relationship between the banking / financial sector and crypto players.

Inventory

In France, the industry related to Bitcoin Revolution reviews in often experiences great difficulty in forging relationships of trust with financial institutions.

Thus, it is often complicated to simply open a bank account or access the same banking services for a crypto startup. It is often difficult to obtain a payment card, a loan or even to make an online transfer. We can read in the ADAN report:

82% of companies have already been faced with a refusal to open or close a bank account.

The services emailing also regularly refuse crypto-blockchain actors. The recent misadventures of Grégory Raymond , journalist at Capital, during the launch of his 21 Millions newsletter is one example among others.

Crypto Friendly Services

Faced with these difficulties, the French company Botcrypto has launched a collaborative list of crypto friendly professional services . The objective is to identify all the services that accept crypto projects, and those that do not, in order to save time for the players in the ecosystem.

A laudable initiative which could help the actors in the medium term. However, the attitude of banking and financial establishments has real consequences for these companies.

The situation endangers the good development of French actors and could quickly lead to their flight abroad to more welcoming lands.