Irish Crypto Exchanges On The Receiving End As Banks Close Accounts

A study conducted by Amarach Research and Red Flag recently revealed that the number of people in Ireland who currently own cryptocurrencies is around 120,000, or about 2.5% of the population. This is an increase of 300% in a period of four years.

Such a remarkable growth in the adoption of cryptocurrencies in Ireland is however at risk of being curtailed. According to reports Irish banks have turned against the country’s cryptocurrency exchanges.

“Several companies providing cryptocurrency services say they have either had to stop trading or have been forced to open foreign bank accounts to keep afloat after Irish lenders refused their business,” writes The Irish Times.