MORE BAD NEWS - UK Banks Become the Latest Credit Card Issuers to Ban Bitcoin
The bad news keeps coming and bitcoin prices keep dropping.
The UK Banks join their American counterparts in banning Bitcoin purchases using Credit Cards
"Britain’s largest banking group with 30 million customers, Lloyds Banking Group, said on Sunday that it will ban its credit card customers from buying bitcoin and other cryptocurrencies"
"Lloyds has a quarter of the UK credit card market"
"Debit cards are unaffected and customers can continue to buy cryptocurrencies using them. "
"To Protect Customers"
"Lloyds’ decision was made to “protect customers” from making unaffordable losses on bitcoin,"
To Protect the Bank
"The company’s announcement came “amid fears credit card customers could run up huge losses”
"The bank fears it could end up footing the bill for unpaid debt should the price fall any lower."
* source - news.bitcoin.com
In the USA
On Friday several of the major US banks including Bank of America, JP Morgan and Citigroup announced they would block the use of credit cards transactions with known crypto exchanges.
you can read that Steemit post about the US Banks banning buying bitcoin by credit card here > https://steemit.com/bitcoin/@watertoncafe/news-bank-america-bans-bitcoin
Bitcoin continues to Fall in price
The continued stream of Bad News from the Regulators and the Banks is succeeding in decimating the crypto-currencies around the world.
MORE BAD NEWS - UK Banks Become the Latest Credit Card Issuers to Ban Bitcoin
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