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Publication Date<br />

Headline<br />

Outlet<br />

URL<br />

05-Feb-2018<br />

The Truth About Lloyds Bank's "Ban" On Customers Buying Bitcoin<br />

LBC (Online)<br />

Click to open<br />

Snippet :11<br />

The headline on the Daily Telegraph claims: "Lloyds Bank In Crackdown On Bitcoin". LBC's<br />

Business Correspondent Emma Sinclair reveals the truth behind the headline.<br />

The <strong>news</strong>paper reports that Lloyds Bank has banned Bitcoin purchases on its credit cards.<br />

Emma explains: "My immediate thought was 'Who is a bank to tell me how to spend my<br />

money?'<br />

"But then I read further and it will not apply to debit cards. This only for the bank's eight<br />

million credit card customers.<br />

"Whilst it is not the job of a company to tell us how to spend our money, we're a country in<br />

debt with high interest rates. And it is a question whether it's right to allow people to buy<br />

heavily fluctuating currencies on a credit card.<br />

"I want to do what I want to do with my money, but I can understand the decision."<br />

The value of Bitcoin has fallen 57% in just two months, from £14,000 in December, to<br />

£6,000 last night. But Emma insists the future is still positive for the currency.<br />

She added: "It's a hell of a drop, but it's still £1,000 higher than it was last year. It's a long<br />

game.<br />

"Crypto-currencies are purported to be the way of the future."

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