Crypto.bg is a leading Bulgarian exchange. Last week it was affected by the unexpected banking clampdown on coin-traders in the country. But now it is set to resume trading today. The company’s management announced that access to their bank account has been restored after negotiations with bank officials.
Stamen Gorchev, Crypto.bg founder said in a statement posted in the company’s forum:
“Our account has been opened today (Saturday). We have lots of pre-hedged orders and hundreds of transactions to process over the weekend. We need to crosscheck manually each transfer with Kraken. Everyone will get their money on Monday morning. That’s a promise!”
The popular Bulgarian exchange has established a long term partnership with Fibank. This is the bank that works with most of the Bulgarian cryptocurrency traders. Fibank is one of the very few Bulgarian-owned banks that had offices working on weekends and closing at 10 pm where you could buy Bitcoin. In another post Mr. Gorchev hinted that Fibank’s move to freeze his company’s account might be a purely business driven decision:
“Fibank is not the problem. The philosophy and technology behind the bank system and Bitcoin are very different. When they collide, Bitcoin crashes traditional banking… It is just a more modern technology”
Crypto.bg offered its customers two options to return their funds – as a BGN refund to their accounts or by buying Bitcoin at its current price.