United Kingdom based Lloyd Banking Group, using the credit cards of the customers of the institution , reported that it blocks the purchase of Bitcoin or other cryptocurrencies.
BBC’ said that the ban, Lloyds Banking Includes Group‘s eight million credit card holders. Including Lloyds Banks, Halifax, MBNA and Bank of Scotland at the same date The same prohibition will apply to subsidiaries.
As mentioned earlier, Bank of America and JP Morgan Chase will also be using their customers’ credit cards this month.
This decision by Lloyd raises concerns that users may not be able to withstand market fluctuations and purchase cryptocurrencies with their credit cards, and the debt balance cannot be paid in case the market falls.
However, according to the statement made, this regulation will not pose any obstacles to users who purchase Bitcoin or cryptocurrency using debit cards.
< A spokesperson for
Lloyds told the BBC that the policy change is, He said it was a result of observations of today’s banking products.. At the same time, this change comes at a time when users in the crypto market may find it difficult to pay their debts to the bank due to Bitcoin, which has experienced a significant drop recently.. In short, the bank wanted to secure itself.
Bitcoin in price mid-December 2017 reached almost $20,000 to today. had reached its highest level. In the past the last two months, it has dropped to the lowest level of two months, $8,000, with the decline it has experienced.
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