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Publication Date<br />

Headline<br />

Outlet<br />

URL<br />

Snippet<br />

05-Feb-2018<br />

Lloyds Bitcoin ban on credit card customers<br />

ITV (Online)<br />

Click to open<br />

Lloyds has become the first banking giant in the UK to ban its credit card customers from<br />

buying the rapidly devaluing digital currency Bitcoin.<br />

The banking group, which also includes Halifax, MBNA and Bank of Scotland, fears<br />

customers could be left in debt after the cryptocurrency's value more than halved in recent<br />

months.<br />

The move follows warnings by regulators in the US, South Korea, China, Russia and India<br />

over the impact of the slide on investors.<br />

How far has Bitcoin's value fallen? £640 The value of Bitcoin in January 2017 £14,465 The<br />

peak value of Bitcoin in December £5,700 The value of Bitcoin today Why is Bitcoin<br />

controversial? The digital currencies are independent of central banks and rely on encyption<br />

techniques to verify the transfer of funds.<br />

But critics warn they are used by criminals and rogue states to carry out clandestine<br />

transactions.<br />

Who else has spoken out about Bitcoin? US billionaire Warren Buffett has warned the boom<br />

will "come to a bad ending", while Germany and France have both called for tougher<br />

regulations.<br />

Facebook has banned adverts for cryptocurrencies on its sites after criticism from users<br />

about scams and hoaxes promoted in their <strong>news</strong>feed.

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