“The bitcoin payment system, Bitspend, has been forced to stop operations after its bank accounts were frozen. Bitspend is a service that acted as a bridge between those who held cash in the form of bitcoin, and merchants who did not accept bitcoin payments. According to the firm, its banks (Chase and another unnamed bank) both told it that they regarded businesses which trade in bitcoin as ‘too high risk’. The banks allegedly did this without notice. Furthermore, Chase bank has also closed the personal accounts of the firm’s owner. The company stated that it will honour orders as soon as it can, but with the current state of affairs it cannot pay its own bills.”

http://www.coindesk.com/bitspend-ceases-trading-due-to-frozen-accounts/

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