TD Bank says it is taking a pause on allowing customers to use its credit cards to buy cryptocurrency.
The big bank says it made the decision to conduct a review and assessment of the evolving market.
The decision follows moves by several U.S. banks to stop allowing credit card purchases of bitcoin and other cryptocurrencies.
The value of bitcoin soared last year, trading for more than C$20,000 per bitcoin.
The value of the cryptocurrency has since come off its all-time highs and trades for around C$13,000, but remains up significantly from where it was a year ago.
Royal Bank says it does allow its credit and debit cards to be used for transactions involving cryptocurrency in limited circumstances, but cautioned clients about the possibility of a sudden drop in the value of cryptocurrencies.
- Honda expected to announce Ontario EV battery plant, part of a $15B investment
- Trudeau says ‘good luck’ to Saskatchewan premier in carbon price spat
- Canadians more likely to eat food past best-before date. What are the risks?
- Hundreds mourn 16-year-old Halifax homicide victim: ‘The youth are feeling it’
Comments