A growing number of large unite states credit card issuers are deciding they don’t need to finance digital currency purchases.
JPMorgan Chase & Bank of America, the nation’s 2 largest banks, told they’re halting buys of bitcoin & other cryptocurrencies on their credit cards.
Bank of US told staff in a memo which it would begain declining credit card transactions with known crypto interchanges on Feb. 2.
The policy applies to all personal & business credit cards issued with the bank.
But cutting off card buys has large implications for bitcoin & other virtual currencies, potentially making it further difficulty for an enthusiastic public to jump into which market.
JPMorgan Chase, Bank of US bar people from buying bitcoin by a credit card
J.P. Morgan Chase & Bank of US told Friday they are no longer allowing customers to purchas cryptocurrencies Utilizing credit cards.
A Bank of US spokesperson too told in an email which the bank has decided to decline credit card buys of cryptocurrencies.
Just final week, Chase told it was allowing customers to purchas cryptocurrencies by its credit cards, When Bank of US was reviewing its policy.
Citigroup too told final 7 days its was reviewing policies which let its customers to purchas bitcoin by credit cards.
Several great retail-facing companies have made it easier for consumers to purchas bitcoin in the final few months.
Bank of US to bar customers buying cryptocurrencies by credit cards
referring to Bank of US declared Friday which it would start flagging & declining transactions made by credit cards to known cryptocurrency exchanges.
A spokeswoman for the nation’s second-largest credit card issuer told which the bank would start declining such transactions as early as Friday.
Customers going to continue be capable buy cryptocurrencies by Bank of US accounts attached to debit or ATM cards, a spokeswoman told The Hill.
The bank, based in Charlotte, N.C., “will start declining credit card transactions by known cryptocurrency exchanges,” according to a memo sent to staff Friday.
Other credit card companies have too taken steps to prohibit consumers from Utilizing their cards to buy cryptocurrencies.
collected by :Ros Roger