BMO Bans Crypto Purchase

The censorship continues. One of Canada’s major banks Bank of Montreal (BMO) has banned the purchase of cryptocurrencies using its Interac debit card. A few days ago, the bank had issued a ban on the purchase of cryptos using MasterCard debit and credit cards, now they have essentially prohibited their customers from buying cryptos in any way shape or form.

A spokesperson for the bank had this to say:

“"I can confirm that we no longer allow the purchase of cryptocurrencies via Interac Online Payments or by using a retail consumer Mastercard-branded credit or debit card."

https://pixabay.com/en/salesforce-bmo-regions-downtown-2550736/

Last week, an email from someone purporting to be an employee of the bank was leaked online and it read

" This decision was made due to the volatile nature of cryptocurrencies, and so to better protect the security of our clients and the bank. "

I wonder why these big organisations continue to lie about the real reasons behind their collusive actions and organised censorship for something that has not been proven to have as much of a negative effect as they would like us to think.

According to Coindesk.com,
“Transactions would be blocked outright for MasterCard products, while a temporary charge will be placed for customers using an Interac card to purchase cryptocurrency. However, Interac transactions will ultimately be blocked as well, according to the document”

These organisation obviously have realised that the public now have the capacity to function without the need for regulation. They have counted the amount of dollars they are losing from unnecessarily high interest rates on mortgagees and low interest rates on savings and are not happy. They have decided to throw all dignity to the wind and are now fighting dirty. Only time will tell how long this censorship will last. I guess we now see the true nature of a society which claims to be free and fair.

Read more:
https://www.coindesk.com/bank-of-montreal-expands-crypto-purchase-ban/