TD Bank becomes latest to bar customers from using credit to buy cryptocurrency

The big bank says it made the decision to conduct a review and assessment of the evolving market.

TD Bank says it is taking a pause on allowing customers to use its credit cards to buy cryptocurrency.

The decision follows moves by several U.S. banks to stop allowing credit card purchases of bitcoin and other cryptocurrencies.

The value of bitcoin soared last year, trading for more than C$20,000 per bitcoin.

Royal Bank says it does allow its credit and debit cards to be used for transactions involving cryptocurrency in limited circumstances, but cautioned clients about the possibility of a sudden drop in the value of cryptocurrencies.