Royal Bank of Canada BANS ALL Cryptocurrency Transactions!

[Slow death]

Here's the thing.  What if I want to transfer $1,000 to CoinSquare and invest in US dollars or gold stocks?  Who says I'm going to trade my CAD for Bitcoin? 

I'm curious, you are also forbidden to do this: "  transfer $1,000 to CoinSquare and invest in US dollars or gold stocks? "

Any email or phone call you make to them just results in a minimum wage employee repeating the same banter about cryptos being risky.

They are not paid to give their opinion, they are paid to do what they are told to do

Nobody should lose sleep over this news.

this is a problem that can take sleep from OP

[shalaza]

It amazes me how this financial institutions and governments thinks they know what the people wants. How can a bank tell me what to do and not to do with my money? So far there is a documented receipt stating i did on my own volition perhaps something bad happen, I don't think it is their problem. But then, what do i know

[leonair]

The 'SO WHAT' mentality will do here, trust me.

If your bank already banned Cryptocurrency transactions then move on to another ways of funding your crypto assets, after all there a lot of ways to do that. We can blame banks to make regulations against cryptocurrencies but we can't stop them because we all know that if it will prosper along the way then it will eventually kill the banking industry also so they're maybe slowing it down to think a way for them to survive in the near future. For me this is a positive thing because banks only showcases the greatness of cryptocurrency that they are not willing to support it.

And if the method runs out before that?
Id there is no bank to turn to in order to buy crypto before crypto totally overtakes banks?
What then?

If you are aware about cryptocurrency then I think you'll not wait for the method to runs out, you will eventually see a signs before it happens.

Trade locally via localbitcoins? With that difference to the actual price?
Try the so called decentralized exchanges that are more of a farce than an exchange?

What do you mean by this? and by the way I think almost all of the exchanges are centralized.

No, the "so what" mentality will only work to deny reality and to think that by ignoring them problems will go away.

Problems will remain problems if we don't make a solution in solving it, my point here is if you can't control such things then 'so what', move on.

[mrtryonebiggums]

That sucks, Canada is one the leading countries when it comes to crypto regulation and growth. Sad to see this happen, and can only happen their stance gets reversed soon enough. Let it be a half fake ban like all the other "bans"  .

[KingScorpio]

But in the end, they will lose the war. Like uber and messagers that dominates the market almost around the world, crypto will do same. But the bankers/government is stronger and harder to defeat, but in some years it will be done.

wenn they lose the war, the cryptocurrency people will also lose, they will lose their states, their tech basis, their IT supply, their linguistic school system etc.

the problem about cryptocurrencies is the same like the one when the germans decided to genocide the jews,

the interest to create money and live of others that work for it is so huge, that the cryptocurrency people systematically will damage and focus the economy on themselves simily like the jews did, after the kings and european nobility were removed and lost their power to mint money.

this will then create vast poverty for the working population to such an extent that less and less people are willing to work for money at all.

this will then cause a domino effect till the entire economy is basically crushed.

[gentlemand]

Why now I wonder? And it's not just this bank in Canada, it's most of them. Check Canadian Localbitcoins volume, everyone's gone there instead. Considering the sheer number of banks who've done this in the last few months it must be a relatively coordinated effort.

[hadveach]

preventive action is very good, RBC worried if the external factors will give more bad influence on the country. especially from the economic and criminal side.

but this decision is temporary, so, I still see there will be a positive result after they have analyzed cryptocurrency.

[KingScorpio]

Why now I wonder? And it's not just this bank in Canada, it's most of them. Check Canadian Localbitcoins volume, everyone's gone there instead. Considering the sheer number of banks who've done this in the last few months it must be a relatively coordinated effort.

the canadian banking cartel is actually from a political point of view highly unnatural, the idea of creating national banking cartels was violently enforced by adolf hitler when he killed all jews in germany and later europe that where active in the financial system.

the war led to the opportunist canadian and american banking cartel to take a strange position opposing hitler and germany while establishing and running thier own banking cartel banning all other cartels in the society respectivly.

now cryptocurrencies are decentralising everything and they try to defent their banking cartel. and their access to "money earning cattle"

[jamebellhery1010]

You simply switch to another bank that does offer that service. other banks may not have the same rules, and i know that some of them are even offering cryptocurrency related services such.

[freesia_pnp888]

Too bad, if they have issued a ban, then nothing you can't do. Switch to other banks!