You are viewing a single comment's thread from:
RE: BANK OF MONTREAL AKA BMO IS SCARED OF CRYPTO
I used to think that those who said banks are afraid of cryptocurrency were whackos. .
Now, I’m not so sure. . .
Banks telling people where they can spend their own money is fucked up.
Why wouldn't you think banks wouldn't want to control how people spend their money? If they didn't want this power, then what good is KYC (Know Your Customer), AML (Anti Money Laundering) and CTF (Control of Terrorist Financing)?
KYC, AML, and CTF are about knowing who, where, and what. Blatantly not allowing people to use their own money where they want, such as what I experienced, seems to be taking things to another level don’t ya think? Can you think of any other denial of service because the bank doesn’t want to do business with the third party? I can’t.
They are about more than that. It's just that the typical person in the west doesn't experience the effects of financial exclusion that these policies have created since the 1970's. Step over the line in a way they don't approve of and they can freeze your accounts. I know other people who this has happened to.
This video will explain it...