[unfocussed_mike]

How will a bank that has restrictive policies around crypto know that a Stripe payout made into a customer's account was not related to an NFT sale?

Essentially, how are existing Stripe users protected from Stripe's reputational self-harm here?

[ipaddr]

How would this bank even know stripe is accepting a new currency? Why would it matter. Money will flow into your account from stripe. Stripe is not a cryto service provider defined by banking regulations.

That's like saying a bank won't accept a transfer from another bank because that bank allows you to pay them in cryto.

[unfocussed_mike]

> Stripe is not a cryto service provider defined by banking regulations.

But it's now a payment provider that allows businesses in the UK to engage in what surely must be considered high-risk crypto business by the bank (NFT marketplaces).

This is the sort of thing that gets businesses denied banking service.

[biztos]

> That's like saying a bank won't accept a transfer from another bank because that bank allows you to pay them in cryto.

Or a bank won't accept a transfer from your bank because your bank might be taking deposits from entities subject to strict sanctions, and the plausible deniability is very thin.

I think banks are working on that as we speak. Cold days in Cypress soon, etc. The reputation risk of "doing crypto" might be decreasing, but the legal risk of violating sanctions seems to be increasing.