28 Apr '13, 3pm

Calgary bitcoin exchange fighting bank backlash in Canada

Calgary bitcoin exchange fighting bank backlash in Canada

Joseph David has overcome a lot of challenges since starting up Canada’s first Bitcoin exchange two years ago but his latest hurdle is proving tougher than all the others. Over the last few days two of the pretenders to the world currency throne — bitcoin, the new high-profile digital currency, and gold, the centuries-old commodity currency — have fallen into a tailspin. Virtex, based in Calgary, is an online market that matches Bitcoin buyers with sellers, with about $13-million of trades under its belt. But earlier this month Royal Bank of Canada quietly informed David that it would no longer do business with his company. “They shut down our account without any reason,” said 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...

Full article: http://www.calgaryherald.com/technology/Calgary+bitcoin+e...

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