How to Explain Crypto Collectibles to Your Banker

A good lesson for newbies.
I have spent years explaining to the bank
I have filled up countless forms and reports
And still have some of my accounts frozen
Sometimes I suspect they are doing this on purpose.

How to Explain Crypto Collectibles to Your Banker

Its May 11, 2018 and I receive a surprise in the mail: an overnight package from FedEx. It’s addressed to my company, Blockade Games.

Another surprise: Our bank, Wells Fargo, thinks we may be a money services business (MSB) and has a stack of paperwork for me to fill out. Thank you, traditional banking system. It’s not like we didn’t spend two hours answering all of these questions when we set up the account or anything.

The document is from Wells Fargo’s “Enhanced Due Diligence Center.” Yeah, you’re probably rolling your eyes like I am. Even better, if they don’t receive the requested information by the deadline, they’ll close our account. Fantastic……

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