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Passing the Burden of Negative Rates to Bank Clients Opens Door for Cryptocurrencies

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Record low and negative interest rates have put commercial banks in a difficult spot. Across Europe, they have been passing the burden to their clients. Some have introduced fees for those with large account balances, while others are punishing everybody equally. In any case, some bankers fear this could lead to withdrawal of large amounts in cash, jeopardizing the cashless society traditional financial institutions have been building. Cryptocurrencies and their users have a lot to win in this situation.

Also read: EU Members Adopt Tougher Crypto Rules Than AML Directive Requires

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