Banks’ Fear of Crypto Grows as Ventures Can’t Register .Bank Names

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Cryptocurrency companies have grown heavily over the last three years. Unfortunately, many regulators and financial enterprises don’t see them in the same category as banks or traditional payment processing ventures. Banks Go Head to Head with Crypto Ventures In a recent announcement, fTLD Registry Services, which provides domain registries to both banking and insurance companies, announced that any cryptocurrency company looking to register a .bank name for their website will be turned away. In other words, crypto companies are not banks, and will not be allowed to register their sites as such. This has been an ongoing fight between crypto ventures and traditional financial institutions for some time. While they both offer relatively similar services and products (money, payment transfers, etc.) traditional institutions are bound by specific laws and regulations that require them to operate within a certain governmental scope. People who are customers of said companies are likely to…

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