We have finally arrived at the point where the powers that be(the big banks) are outright shutting down the accounts of cryptocurrency companies to prevent them from prospering and threatening their markets. JP Morgan and HSBC have pulled the rug from out under several cryptocurrency companies in a bid to try to stop or slow the technology from taking over. I believe it is an attempt to slow the technology from taking hold as they themselves are developing their own solutions using the technology so they can continue to dominate the marketplace with JP Morgan utilizing JPM Coin and with HSBC forming a 17 bank consortium to create a Universal Settlement Coin(USC) to prevent private crypto companies from taking their share of the market from them. Will they succeed? Its really anyone’s guess. Technology has to progress but these banks wield both lots of political and economic power and can pull the right strings to block favorable regulation and buy themselves more time to adapt. It may end up slowing things down and may endanger the investments of early crypto adopters to the benefit of the big banks.