Royal Bank of Canada BANS ALL Cryptocurrency Transactions! - page 3.

OrlandoLasso

newbie

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Quote from: tokenomics on May 20, 2018, 10:34:21 PM

Every country has the right to allow, support and participate in the cryptocurrency hype. And so as every country has the right not to for a lot reasons. Recently, Royal Bank of Canada (RBC), the country's second-largest bank by assets, determined that it would allow cryptocurrency transactions only "in limited circumstances," although it did not ban digital currency purchases for its users outright.

The Royal Bank did outright ban its clients from buying Crypto. I was able to use Coinsquare until last week. Their debit and VISA cards don't work anymore.

leonair

sr. member

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The 'SO WHAT' mentality will do here, trust me.

If your bank already banned Cryptocurrency transactions then move on to another ways of funding your crypto assets, after all there a lot of ways to do that. We can blame banks to make regulations against cryptocurrencies but we can't stop them because we all know that if it will prosper along the way then it will eventually kill the banking industry also so they're maybe slowing it down to think a way for them to survive in the near future. For me this is a positive thing because banks only showcases the greatness of cryptocurrency that they are not willing to support it.

TepungBeras

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This is very bad news and this is very detrimental to users of cryptocurrency, better Canada looking for solutions that can be equally beneficial for both parties.

tokenomics

newbie

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Every country has the right to allow, support and participate in the cryptocurrency hype. And so as every country has the right not to for a lot reasons. Recently, Royal Bank of Canada (RBC), the country's second-largest bank by assets, determined that it would allow cryptocurrency transactions only "in limited circumstances," although it did not ban digital currency purchases for its users outright.

pooya87

legendary

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then it is time to change your bank!
it is simple, when a bank that you are using stops offering the service that you wanted to use, then you simply switch to another bank that does offer that service. other banks may not have the same rules, and i know that some of them are even offering cryptocurrency related services such as a cryptocurrency vault in Pacific & Western Bank of Canada.

cherryscarlett

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Because the cryptocurrency market could have a big impact on the traditional banking industry.
So Banks may ban bitcoin transactions, but blockchains and bitcoins are a future trend.
The bank is suicidal by themself.

elisabetheva

full member

Activity: 1708

Merit: 105

Quote from: squallw on May 20, 2018, 09:55:17 PM

Quote from: OrlandoLasso on May 20, 2018, 09:43:18 PM

My bank, RBC has banned all transactions involving crypto. I can't even fund my Coinsquare account with my debit card anymore.
This is the response I got when I emailed them about it:

"The cryptocurrency environment is continuously evolving. After carefully reviewing the current regulatory, risk, and external environmental factors around cryptocurrency, we've elected to stop facilitating transactions involving cryptocurrency. We will continue to monitor these factors going forward."

Many countries is fighting against bitcon and cryptos.
In fact, bankers and government will always fight agains, it is like the regular taxi against uber and telecom companies against messagers/voip.

But in the end, they will lose the war. Like uber and messagers that dominates the market almost around the world, crypto will do same. But the bankers/government is stronger and harder to defeat, but in some years it will be done.

the great hope that you put forward can be realized well because indeed progress on crypto will not be avoided, hopefully this era of crypto awakening.

Meysa_richa

member

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Statements such as these are very detrimental to users of cryptocurrency in Canada, should the government be able to be positive about crypto and supervise in a useful way.

squallw

full member

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Merit: 122

Quote from: OrlandoLasso on May 20, 2018, 09:43:18 PM

My bank, RBC has banned all transactions involving crypto. I can't even fund my Coinsquare account with my debit card anymore.
This is the response I got when I emailed them about it:

"The cryptocurrency environment is continuously evolving. After carefully reviewing the current regulatory, risk, and external environmental factors around cryptocurrency, we've elected to stop facilitating transactions involving cryptocurrency. We will continue to monitor these factors going forward."

Many countries is fighting against bitcon and cryptos.
In fact, bankers and government will always fight agains, it is like the regular taxi against uber and telecom companies against messagers/voip.

But in the end, they will lose the war. Like uber and messagers that dominates the market almost around the world, crypto will do same. But the bankers/government is stronger and harder to defeat, but in some years it will be done.

OrlandoLasso

newbie

Activity: 55

Merit: 0

My bank, RBC has banned all transactions involving crypto. I can't even fund my Coinsquare account with my debit card anymore.
This is the response I got when I emailed them about it:

"The cryptocurrency environment is continuously evolving. After carefully reviewing the current regulatory, risk, and external environmental factors around cryptocurrency, we've elected to stop facilitating transactions involving cryptocurrency. We will continue to monitor these factors going forward."

Topic: Royal Bank of Canada BANS ALL Cryptocurrency Transactions! - page 3. (Read 305 times)