🎯 The largest Canadian bank TD Bank has banned the purchase of crypto currency by credit cards
💳 Toronto-Dominion Bank (TD), one of the largest banks in Canada, informed its customers by e-mail that the purchase of credit cards using credit cards will be banned.
The very people who buy btc with credit-cards are the very ppl who should not be buying btc, the banks, know that the 2017 gold-rush run-up $200 to $20k of BTC was based on CC purchasing, and with -80% of the gain just wiped out last month $320 billion cap down to $120 B, most of this CC money will never be paid back, thus there is NO point to knowingly finance a guy that's going to default.
Think of it this way the banks are looking out for their idiot customers
The bank didn't shut down btc, they just quit handing out free money to buy btc, when they felt comfy with the loan, they were glad, but the writing is now on the wall that the gold-rush is over.
Banks like a non-comforming loan ratio that's low, like say 5% of customers in default, but when say 50% or more of the customers can't pay their visa bill, that bank has BIG problems, GOV problems; GOV say's to the bank, 'why did you allow this to happen??", if GOV gets pissed off at these banks for their losses of "FIAT", then no more free low-cost fiat for that bank.