Banks banning credit card crypto

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Meanwhile, several banks occasionally barred their customers holding credit cards from purchasing cryptocurrencies, mainly citing the volatility. Morgan Chase, Bank of America and Citigroup said Friday they are no longer allowing customers to buy cryptocurrencies using credit cards. Lloyds. Lloyds Banking Group has banned credit card customers from buying bitcoin amid fears it could be left in debt as the cryptocurrency's value.

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According to a KuCoin survey, 26 percent of South Korean adults are holding cryptocurrencies. It further indicates that the restriction also extends to Capital One, another major credit card issuer in the U. The FSC's proposal is now seeking feedback from the public and will be open until 13 February. Learn more about Consensus , CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3.