TD Bank halts permitting business to use credit cards to buy cryptocurrency
The value of Bitcoin soared final year, trade for some-more than $20,000 per Bitcoin. (Benoit Tessier/Reuters)
Toronto-Dominion Bank is crude a use of a credit cards to buy cryptocurrency as it conducts a examination of a “evolving market.”
The new preference follows moves by several U.S. banks to stop permitting credit label purchases of Bitcoin and other cryptocurrencies.
“At TD, we frequently weigh a policies and confidence measures, in sequence to offer and strengthen a customers, as good as a bank,” a TD orator pronounced in an emailed matter Friday.
The value of Bitcoin soared final year, trade for some-more than $20,000 per Bitcoin. Since then, a value of a cryptocurrency has come off a all-time highs and trades for around $13,000, though stays adult significantly from where it was a year ago.
Royal Bank pronounced Friday it does concede a credit and withdraw cards to be used for exchange involving cryptocurrency in singular circumstances. However, a lender also cautioned clients about a probability of a remarkable dump in a value of cryptocurrencies that “could display them to almost aloft debt levels than they are means to repay.”
“We do commend that regulatory, risk and other outmost environmental factors relating to cryptocurrency continues to evolve,” an RBC orator pronounced in an emailed statement. “As such, we continue to examination a policies to cruise how we can best support clients.”
The Bank of Nova Scotia is also looking closely during a cryptocurrency transaction policy.
“We know that regulatory and risk factors associated to cryptocurrency continue to develop and as a result, we are closely reviewing a policies with honour to cryptocurrency transactions,” a Scotiabank orator pronounced in an emailed statement.
The Canadian Imperial Bank of Commerce and a Bank of Montreal did not immediately respond to requests for comment.
Article source: http://www.cbc.ca/news/business/td-banks-bitcoin-1.4549697?cmp=rss