09.02.2018 Views

news

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

Publication Date<br />

Headline<br />

Outlet<br />

URL<br />

Snippet<br />

05-Feb-2018<br />

Lloyds Bank to ban credit card transactions involving Bitcoin purchase<br />

Paypers<br />

Click to open<br />

Lloyds Banking Group has announced it would ban its credit card customers from buying<br />

Bitcoin and other cryptocurrencies, according to Reuters.<br />

The bank’s decision to prohibit its credit card customers from buying Bitcoin was made amid<br />

fears that they could run up huge losses. The company fears that credit card owners will buy<br />

Bitcoin hoping to make a profit when its value goes up, but will be laden with debt if its price<br />

falls, the Telegraph reported.<br />

Credit card customers of the bank will be blocked from buying Bitcoin online through a<br />

blacklist that will flag sellers, according to the Telegraph. Furthermore, the company will<br />

block any attempts to buy Bitcoin with a credit card starting on Monday, February 5, but<br />

digital currencies could be purchased with debit cards.

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!