International money transfer services provider has started a campaign against wire transfer transactions with digital currency exchanges. This decision to block cryptocurrency services and transactions is covered by its internal regulations. Also they reported about it in a Reddit post about the cryptocurrency exchange Kraken. In that time they said they not processing a transaction with digital currencies because it is against WU internal rules.
This decision could have a negative effect for the operation of virtual currency exchanges and the consumers using cryptocurrencies. Also the WU company could leave much of business in the long term, because the cryptocurrencies popularity grows up.
The Western Union company was established in 1851. The firm offers some range of services - remittance, wire transfers and business payments. Also earlier the company has been cross-border transactions through Blockchain.