I have been operating a Stakepool since October last year and we have set up as a limited liability company. I would be keen to find out how other SPO’s are going with setting up bank accounts when working in the crypto industry. I have to admit I am so frustrated at the whole process. After months of trying with different banks and crypto exchanges I successfully managed to get a business account with Revolut and and a corporate account with Binance. This is with full disclosure to the institutions of what is involved with running a Stakepool. This I thought would allow me to transfer ADA to Binance and convert to GBP and then send the GBP to my business account with Revolut. But NO of course not - Revolut will not allow transfers from crypto exchanges. Has anyone managed to successfully set up their business so that all their accounting can be managed from a business account in the name of their company or business name. I have tried everything but at the moment I cannot find a solution.
I should add that I have found it impossible to open a business bank account with any of the major banks and all of the challenger banks with the exception of Revolut. I think there was one bank that would agree to do it for 200 pounds a month in fees which is obviously ridiculous. So I am not sure how other SPO’s are running their business but I would suspect a lot are just mixing their accounting in with the personal Bank accounts which is hardly ideal. Ok I know this is not a sexy topic but one I never see discussed like so many other compliance issues with running a Stakepool so again I would really like to hear from others on this.