Topic: [2018-2-4]Major Banks Ban Buying Bitcoin With Your Credit Card (Read 103 times)
This is a very questionable move on their part. Instead of experimenting with block chain they are outright putting a halt to crypto. Every pundit hales block chain as revolutionary when it comes to credit card payments. Perhaps these banks are scared of losing business to competing crypto exchanges, that's why they are banning their transactions. In china already services like wechat and alibaba are already revolutionizing credit card payments, so these banks can too.
February 05, 2018, 03:41:41 AM
Most major U.S. credit card issuers have now banned the use of their cards to buy Bitcoin or other digital currencies, in a move intended to decrease both financial and legal risk.
Bank of America began blocking cryptocurrency purchases on Friday, according to Bloomberg. JPMorgan did the same on Saturday.
Citigroup also says it is halting cryptocurrency purchases on credit, and Capital One and Discover had already enacted their own bans. That means all of the top five credit card issuers have announced or implemented bans.
Bank of America began blocking cryptocurrency purchases on Friday, according to Bloomberg. JPMorgan did the same on Saturday.
Citigroup also says it is halting cryptocurrency purchases on credit, and Capital One and Discover had already enacted their own bans. That means all of the top five credit card issuers have announced or implemented bans.
Source: http://fortune.com/2018/02/04/banks-ban-buying-bitcoin-credit-card/
Lloyds Bank bans Bitcoin purchases on its credit cards
will update others
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