Capital One Financial Corp has blocked holders of credit cards from its bank from using them for cryptocurrency purchases. In a statement to Breitbart news, the company said it made the move due to “limited mainstream acceptance (of cryptocurrencies) and the elevated risks of fraud, loss, and volatility inherent in the cryptocurrency market.”
But that decision is subject to change. “Capital One continues to closely monitor developments in cryptocurrency markets and exchanges and will regularly evaluate the decision as cryptocurrency markets evolve,” the bank wrote.
Capital One’s decision to block purchases was first reported by online publication The Merkle, which cited a Reddit thread regarding the issue. In the thread, a Coinbase user reported that his purchase of $90 in cryptocurrencies was blocked by the bank. Capital One subsequently tweeted a clarification
Read more: https://www.investopedia.com/news/capital-one-blocks-cryptocurrency-purchases-its-card