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[Some] Banks ban credit purchase of cryptocurrency due to risks

DrinkLyeAndDie

DrinkLyeAndDie

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Engadget: Banks ban credit purchase of cryptocurrency due to risks

If you use your Bank of America-, JP Morgan Chase- or Citigroup-issued credit card to buy cryptocurrency, then you'll have to find an alternative ASAP. According to Bloomberg, the banks have banned crypto purchase using their cards due to the virtual coins' volatile nature. BofA has already started declining credit transactions with known exchanges, though its debit cards aren't be affected by the ban. Citigroup also announced on Friday that it'll no longer process crypto purchases, while JP Morgan Chase's new rule will take effect today.
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While cryptocurrency is inherently risky is it really the place of banks to ban the purchase via credit card?
 
Could be they're wanting to make their own supported currency. Wasn't there a fork that was backed by various banks?
 
They just ban credit purchases they didn’t ban Sales and deposit


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