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Publication Date<br />

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05-Feb-2018<br />

Lloyds to ban credit card owners from buying bitcoin<br />

RTÉ.ie<br />

Click to open<br />

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

and other cryptocurrencies.<br />

"Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card<br />

transactions involving the purchase of cryptocurrencies," a company spokeswoman said in<br />

an email.<br />

The UK's biggest mortgage lender will ban its credit card customers from buying Bitcoin<br />

amid fears that they could run up huge losses, the Telegraph reported over the weekend.<br />

The company will block any attempts to buy Bitcoin with a credit card starting today, but<br />

digital currencies could be purchased with debit cards, the <strong>news</strong>paper said.<br />

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

blacklist that will flag sellers, it added.<br />

The company fears that credit card owners will buy Bitcoin hoping to make a profit when its<br />

value goes up, but will be laden with debt if its price falls, the paper reported.<br />

Digital currencies plunged on Friday, with Bitcoin at one point sliding below $8,000 and<br />

headed for its biggest weekly loss since December 2013, amid worries about a global<br />

regulatory clampdown.

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