The subject who is truly loyal to the Chief Magistrate will neither advise nor submit to arbitrary measures. The Bank of Montreal in Toronto’s Financial District on Tuesday, April 4, 2017.
THE CANADIAN PRESS/Aaron Vincent Elkaim The Bank of Montreal has shut down the use of its credit cards to buy cryptocurrencies such as bitcoin, joining Toronto-Dominion Bank which made a similar announcement last month. A BMO spokesperson confirmed in an email that it no longer allows retail consumers to purchase cryptocurrencies using its Mastercard-branded credit or debit cards.
The BMO announcement follows similar moves by TD Bank and a number of U.S. financial institutions. Story continues below advertisement A TD spokesperson said late last month that it’s halting credit card purchases of cryptocurrencies while it reviews the evolving market.
The Bank of Nova Scotia has also said that it’s looking closely at its cryptocurrency transaction policy, while the Royal Bank of Canada has said it allows its credit and debit cards to be used to buy virtual currencies in limited circumstances but cautioned clients that a sudden drop in value of the coins could leave them exposed. -With files from the Canadian Press 351 King Street East, Suite 1600, Toronto, ON Canada, M5A 0N1 Read more from theglobeandmail.com…
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