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Peter Schiff's bank closure strengthens Bitcoin case for financial freedom

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cointelegraph.com

Prominent economist Peter Schiff, who is well-known in the community for his anti-crypto sentiments, had his bank shut down by Puerto Rico regulators.

The revelation, however, led to Crypto Twitter pointing out the “irony” as Schiff’s prediction for Bitcoin (BTC) came true for his own traditional bank.Puerto Rico regulators closed down Schiff’s bank for not maintaining the net minimum capital requirements, which further impacted the customers as they lost access to their accounts following a subsequent freeze.Despite no evidence of crimes, Puerto Rico regulators closed my bank anyway for net capital issues, rather than allow a sale to a highly qualified buyer promising to inject capital far in excess of regulatory minimums.

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