four U.S. banks have been barred from purchasing cryptocurrencies with credit cards from coinbase.
Firm's latest tweet, credit card users from JPMorgan Chase, Bank of America, Citi and Capital One are all currently prohibited from purchasing cryptocurrencies at the platform. other payment channels such as debit cards and bank transfer are still available.
In early February over fears that credit card users may run up debt, Chase, Bank of America and Citi had launched the ban.
According to CoinDesk's latest report, bitcoin's price has dropped to a 12-week low around $6,000. On the same date in January, prices were closer to $17,000.
CoinMarketCap also indicates that the total cryptocurrency market capitalization slumped today to under $300 billion.
According to other reports, British banking group Lloyds has also blocked card holders from several of its major subsidiaries from purchasing bitcoin on credit.
source of Article: https://www.coindesk.com/coinbase-confirms-4-banks-blocking-bitcoin-purchases-on-credit-cards/
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