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Cryptocurrency payment company Kontigo's leader Jesus A. Castillo recently responded to a media report. The report claimed that the company had its account closed by JPMorgan Chase for "compliance reasons," but Castillo directly denied the accuracy of this statement.
Castillo not only refuted the report but also pointed out that there are serious issues with the report itself, with wording that even involves defamation. From his remarks, the company appears to be quite dissatisfied with how it has been portrayed externally.
Although Castillo did not fully elaborate on the details in his response, this exchange of words reflects the ongoing tension between the crypto industry and traditional financial institutions regarding account compliance issues. What exactly caused this conflict, and what is the true situation behind each side's claims, still requires further factual clarification.
Defamation? Ha, that word is really powerful. Who's feeling guilty?
Compliance reasons vs denial, neither side is willing to open up and talk. What to do?
Traditional finance has always played like this, just trying to guard against us.
Without details, there's no truth. Let's wait for the follow-up, brother.
No one can afford to offend JPM, but that doesn't mean we have to say they're right.
When will this bickering ever end? It's so annoying.
It's about accounts and compliance again, basically the banks just don't want to deal with us.
Where are the details? Say it all out, don't act mysterious.
Traditional finance vs crypto, this battle will never end, right?
Traditional finance just doesn't want us to have a good time
What are the details? We need to see the evidence
Sounds like the same old excuse, who believes that
Castillo hit back pretty hard this time, defamation? Really?
Different treatment under the guise of compliance reasons, same old tricks
Just want to know who is lying and where the evidence is
These days, web3 people all have to go through account battles with big banks
They talk tough but lack substance, making it hard to judge
It's the same old story, everyone sticking to their own version, so annoying, just want the truth
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This kind of blame game happens every month, anyone who believes it is the one who loses
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They don't clarify the details, just throwing blame around, what's the point? I just want to know the truth
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Defamation? Ha, traditional finance is just this routine, suppressing crypto companies
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Kontillo needs to quickly present the evidence, or it will just be one-sided claims
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Banks are like this, they close accounts at the slightest disagreement, no one cares
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Both sides are arguing, and we ordinary people are kept in the dark
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Compliance, compliance, just an excuse, they just don't like us
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Wait and see, there will definitely be more plot twists to come