Bitcoin Exchange VirtEx Shut Down by Royal Bank of Canada
Bitcoin Exchange VirtEx
VirtEx is a Bitcoin exchange based in Calgary, Canada, formed by Joseph David with over $13.2 million traded. From their website:
VirtEx stands for Virtual Exchange. We are Canada’s first Bitcoin (BTC) trading market that allows you to buy and sell Bitcoins with Canadian Dollars. We are continuously researching new fund transfer options for faster, easier deposits, and withdrawals with minimal fees. We hold and verifying funds before orders are allowed to be placed. If you see an order to buy or sell Bitcoins on our site, you can be assured that the funds have been verified and you can accept to buy or sell at the price and quantities specified.
As the National Post reports, VirtEx has run into a snag.
Earlier this month Royal Bank of Canada quietly informed Mr. David that it would no longer do business with his company.
“They shut down our account without any reason,” said Mr. David, an ebullient entrepreneur with a background in technology companies. “They just said we have the right to refuse service to whomever we wish.”
For whatever reason, many in Canada’s small but fast growing Bitcoin community are suddenly dealing with the same problem: The banks have decided they don’t like the cryptocurrency and they’re shutting down some of the accounts of businesses that deal in it.
Read the full article at the National Post.
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