Topic: Canada BMO Ban on Crypto (Read 127 times)
Banks and the government runs on the fiat money. If people started using and transacting on crypto, use an online bank to save and get loan, the bank would go bankrupt. If everything started running on smart contracts, there would be no place for organizational corruption.
So as many of you already know, Canada is starting to tighten up the rules and restrictions when it comes to buying or selling any crypto.
BMO, the Bank of Montreal's wealth management team recently decided to place a complete ban on buying any Bitcoins or altcoins using either your Debit or your Credit card.
This makes sites like Quadriga, Coinbase, QuickBT, etc all useless.
It is believed to be just a matter of time before the other CND banks follow.
Fortunately there are ways around this, this is more of an inconvenience than anything.
That said, is this the future we are heading down? Do the banks even have the legal right to tell us what we can and cannot spend our own money on?
While some countries seem to be embracing the digital currency revolution, others seem to be fighting back.
What do you all think? Should banks even be allowed or have a say to prevent you from buying or selling BTC, ETH, etc?
BMO, the Bank of Montreal's wealth management team recently decided to place a complete ban on buying any Bitcoins or altcoins using either your Debit or your Credit card.
This makes sites like Quadriga, Coinbase, QuickBT, etc all useless.
It is believed to be just a matter of time before the other CND banks follow.
Fortunately there are ways around this, this is more of an inconvenience than anything.
That said, is this the future we are heading down? Do the banks even have the legal right to tell us what we can and cannot spend our own money on?
While some countries seem to be embracing the digital currency revolution, others seem to be fighting back.
What do you all think? Should banks even be allowed or have a say to prevent you from buying or selling BTC, ETH, etc?
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