Monday, April 2, 2018

Banks starting their move to control the cryptocurrency sector by exempting customer investing while at the same time funding financial market crypto programs

Goldman Sachs is not the only bank that sees their customers as 'Muppets' as according to an internal memo made public by a whistleblower over the weekend, the Bank of Montreal is initiating a new program which will prohibit banking clients from using their services to purchase cryptocurrencies.

And what is most ironic, and indeed hypocritical about this move is that even as BMO is cutting off investor choice in how they choose to spend their money, the bank is also providing full support to the TSX in their pursuit to open a cryptocurrency broker exchange.

Like with the rule of law today for the 1%... it is do as I say, not as I do.

Bank of Montreal (BMO) has decided that its clients aren’t capable of making their own decisions and will be blocking any and all transactions related to cryptocurrency. The move comes despite the fact that the BMO is planning on offering banking services to TMX, operator of the Toronto Stock Exchange, which is planning on launching a cryptocurrency brokerage service. 
The announcement hasn’t officially been published by BMO, but, instead, came by way of a post on Reddit. A user who identified himself as a BMO employee published an internal BMO memo, Ops Bulletin #632 from March 28, which outlined the company’s position. The letter was supposedly sent to all company employees and is entitled, “Blocking Cryptocurrency Transactions for BMO Credit Cards, Debit Cards, & Intra Online Payment.” – CoinGeek

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