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05-Feb-2018<br />

Lloyds Bank to block credit card owners from...<br />

Dotemirates.com<br />

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Lloyds Banking Group Plc 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 />

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

fears that they could run up huge losses. The company will block any attempts to buy<br />

Bitcoin with a credit card, but digital currencies could be purchased with debit cards, the<br />

<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. The company fears that credit card owners will buy Bitcoin<br />

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

the paper reported.<br />

British Prime Minister Theresa May has said Britain should take a serious look at digital<br />

currencies such as Bitcoin because of the way they can be used by criminals.<br />

Digital currencies plunged with Bitcoin at one point sliding below $8,000 and headed for its<br />

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

clampdown.

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