Western Union stops cryptocurrency-related transactions

Western Union stops cryptocurrency-related transactions

Western Union, an international money transfer services provider, stopped transactions involving cryptocurrency exchanges. The company made the decision based on the internal regulations, Cointelegraph reports.

One of Reddit users said that Western Union refused to process the transfer for the cryptocurrency bank Kraken. The company has reportedly explained that processing transactions related to digital currencies is against Western Union’s internal rules.

There were no such problems before, the user claims: he repeatedly used Western Union for such transactions, since it is cheaper than a bank payment. A representative for the Kraken bank also confirmed that they are cooperating with Western Union.

Despite the situation, the company's services are still popular in the crypto community.

Western Union has never spoken out against the cryptocurrency, but technical director of the company David Thompson said earlier that cryptocurrency-related transactions will not be performed until there is legislative regulation in this area.

 

Subscribe to the news of Blockchain & Bitcoin Conference Stockholm on Facebook and Twitter!

Buy a ticket
Meet new speakers and key news of the conference