Barclays Shuts Down Bitcoin Publication’s Bank Account, Without Explanation

CoinJournal, a fellow bitcoin publication, saw its banking services come to an abrupt end after its banking provider Barclays terminated its business account.
CCN spoke to a representative of Manchester-based CoinJournal who was understandably none-too-pleased about the disruption. Elaborating on the need for a fiat-based banking solution, the representative stated:
[T]he account is used predominantly for taking payments via advertisers in dollars and exchanging these for Bitcoin and paying our staff and overheads using Bitcoin.
The representative also revealed that CoinJournal received no official warnings prior to its account closure. Even more alarmingly, Barclays still hasn’t given a reason for the extreme action.
The CoinJournal rep revealed:

This post was published at Crypto Coins News on 27/10/2016.