Last month, Sweden’s largest precious metal dealer posted a notice that their bank account had been closed without their consent.

Tavex Guld & Valuta posted a notice on June 30th that their bank account had been unilaterally closed. This left the dealer without an efficient way of accepting payments for good, racing to establish a new payment system.

A notice screenshotted from the Tavex website read as follows:

At time of writing, the notice appears to be gone.

Bitcoin can’t be revoked or shut down

As opposed to banking systems, Bitcoin does not run the risk of being shut down. Over 6 million account applications were denied by UK banks over the past two years, while US citizens increasingly fear online shopping and other internet activity over privacy concerns. Meanwhile, with demand for tax havens growing, Bitcoin conveniently solves all of the above problems.

Recently, Uber had the same issue in Argentina Tavex experienced in Sweden, with the use of credit cards for payments being unilaterally denied. Thankfully, Uber switched to Xapo Bitcoin debit cards, saving the company from having to shut down Argentine operations.