Banks labeling cryptocurrency as risky is analogous to FAX companies labeling email as risky.
Greetings from Portugal!
It's amusing, if not ironic, to see banks warn about cryptocurrency. Banks are terrified as money moves from their control to exchanges that they cannot manipulate. The fewer assets they control, the less power they have.
Crypto is a threat to their survival, and they are well aware of it! When FAX companies noticed that emails were stealing their market share, they would issue warnings about their dangers.
Banks are not stupid; they employ a lot of smart people. They are aware that their future is no longer secure, with so many people wanting decentralized finance and seeing its widespread adoption.
Keep an eye out for sudden drops in interest rates on banking products and increases in advertising. Banks have actually begun to collaborate. Banks in Portugal are beginning to work on cross-banking applications, such as accessing multiple bank accounts from different banks through one of their applications.
I would love to ear the community thoughts on this!
submitted by /u/Not_a__Lawyer