Can Canadian banks stop me from buying bitcoin?

According to the Government of Canada website, financial institutions, such as banks and caisses populaires, do not manage or monitor cryptocurrencies. This would seem to indicate that banks have no reason to prevent you from transferring money on exchanges in order to buy cryptocurrencies with your credit/debit card. However, Canadian banks will block most purchases of bitcoins with a credit card. In addition, there are stories of Canadian residents and businesses whose bank accounts are closed and funds seized for several weeks as they prepare under indefatigable investigations by Canadian banks without finding or evidence of illegal activities. The act of purchasing bitcoins is not illegal. A Canadian bank should not close your account to buy bitcoins on websites such as Bull Bitcoin, Coinsquare or Coinbase, but they do. Cryptocurrencies such as bitcoins are accepted in many online and offline stores. It is perfectly acceptable that you need to hold bitcoins today, but most financial institutions still have triggers in place and organize mass trainings with their staff, depicting Bitcoin as a whitening tool used only by criminals. Canadian banks are generally slow to adopt FinTech technologies, for exemple, most banks still do not offer the 2FA option to their customers.

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