• Sunday, December 04, 2022

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Lloyds Bank bans Bitcoin buying with credit cards

Photo: GEOFFROY VAN DER HASSELT/AFP/Getty Images)

By: Kiran Paul

By Lawrence White and Emma Rumney Feb 5 (Reuters) – Banks in Britain and the United States have banned the use of credit cards to buy Bitcoin and other “cryptocurrencies”, fearing a plunge in their value will leave customers unable to repay their debts. Lloyds Banking Group Plc, Britain’s biggest lender, said on Sunday it would ban its credit card customers from buying cryptocurrencies, following the lead of U.S. banking giants JP Morgan Chase & Co and Citigroup. The move is aimed at protecting customers from running up huge debts from buying virtual currencies on credit, if their values were…

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