British Banks Aren`t Happy with Cryptocurrency – Lloyds Bans Bitcoin Purchase with Credit Cards

Credit card purchases of cryptocurrencies has been a common practice in Britain, till now.
Lloyds Banking Group is the largest banking system in Britain, and now, it is the first credit card provider who has banned its clients from buying cryptocurrencies with its credit cards.
The decision isn’t new though in the financial world. A similar measures were taken by Bank of America.
Lloyds is going to block more than 9 mln of its credit cards from purchasing cryptocoins, though the purchasing will be not available just from some sellers. The bank administration believes that this ban would protect their customers from accumulating debts if bitcoin continues falling.

Add a Comment

Your email address will not be published. Required fields are marked *