The multinational investment bank and financial services company, Morgan Stanley has published their latest report which was released on 31st October. The report contains an overview of the evolution of Bitcoin and how its investment purpose has changed throughout the years but the report has a bullish sentiment to it in comparison the outlook for 2017. Also in the report is a few drawbacks of the crypto including a lack of regulations and energy.
Like taxi drivers attacking Uber or candle makers trying to block out the sun, another bank has taken a stand against bitcoin. BMO is apparently trying to protect its clients from themselves by taking away the freedom to decide what to do with their own money, like using cryptocurrency..
BMO Financial Group
Bank of Montreal (TSX:BMO), the major Canadian multinational banking corporation operating as BMO Financial Group, has reportedly implemented a ban on its clients participating in cryptocurrency transactions. A Reddit user claiming to be working for the bank has shared an internal document (Ops Bulletin #632 dated March 28, 2018) said to be sent via email company-wide announcing the restrictive measures.