Western Union began to block transfers of cryptocurrency

International money transfer service Western Union has launched a campaign against the banking transactions associated with cryptocurrencies. This writes cointelegraph.

The company’s decision to deny services or transactions associated with cryptocurrencies, are governed by internal rules.

One Reddit user reports that the company informed the cryptocurrency exchange Kraken that it does not handle transactions related to digital currencies, because it is contrary to its internal rules.

It is noted that this decision WU could have a negative affect on cryptocurrency exchanges as well as consumers using cryptocurrencies.

It can also affect the profitability of the company because in the long run it will lose a lot of business, given the growing popularity of cryptocurrency in the world.

Ban WU for transactions associated with cryptocurrencies, similar to the actions of various financial institutions worldwide which do not allow their customers to buy and sell digital currency. Some banks even closed the account related to cryptocurrencies.

Although this is a bad precedent for the market of virtual currencies, none of the analysts do not doubt that it would have no impact on growing the latest exchange rate for bitcoin.

Earlier it became known that PayPal blocks user accounts that are associated with cryptocurrency. It is known that the company is negatively related to bitcoin and other cryptocurrencies.

Recall that today on the bitcoin exchange Bitfinex has updated the historical record — $12,160 thousand