Crypto Hater Peter Schiff Will Accept Bitcoin as Payment for His Troubled Bank
Categories: Crypto News US
Crypto Hater Peter Schiff Will Accept Bitcoin as Payment for His Troubled Bank
Renowned cryptocurrency critic Peter Schiff responded in the affirmative when asked if he would sell his troubled Euro Pacific Bank for bitcoin. Schiff said that despite his dislike for cryptocurrencies, he would agree to such a deal if it were approved by the regulator. The economist argued his position with the fact that it is important for him, first and foremost, to protect the bank's customers.
Recall that Schiff's Euro Pacific Bank was halted for non-compliance with the net minimum capital requirements of Puerto Rican law. This incident in turn led to the freezing of the bank's customer accounts. Schiff said regulators wanted to liquidate the bank for tax evasion and money laundering, although the bank had no evidence of this.
However, he also acknowledged that essential requirements were violated, explaining that the bank was new to Puerto Rico and had less money than it should have. According to Crypto Hater, it costs a lot of money to run a small bank, and the bank earned nothing from its operations.
That's when cryptocurrency enthusiasts, recalling the economist's statements that cryptocurrencies are a scam and the pinnacle of traditional finance par excellence, began to warn them on Twitter about how important bitcoin is, asking them to reconsider their perspectives and views. urged to do.