Bitcoin had rallied a bit over the weekend, peaking at nearly $9,500 on Saturday, but Monday's news that Lloyds Bank has prohibited its credit card customers from using their cards for cryptocurrency sent prices reeling.
“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” a Lloyds Banking Group spokesperson told MarketWatch. “It’s a case of protecting our credit card customers from the risks associated with the price volatility of cryptocurrencies."