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Headline<br />

Outlet<br />

URL<br />

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04-Feb-2018<br />

Lloyds Bank to ban credit card owners from buying Bitcoin – Telegraph<br />

Huffington-Global.com<br />

Click to open<br />

(Reuters) – Lloyds Banking Group Plc will ban its credit card customers from buying Bitcoin<br />

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

Britain’s biggest mortgage lender will block any attempts to buy the digital currency with a<br />

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

paper said. bit.ly/2nGikQy<br />

Credit card customers of the bank, including Halifax, Bank of Scotland and MBNA will be<br />

blocked from buying Bitcoin online through a blacklist which will flag up sellers, according to<br />

the Telegraph.<br />

Lloyds could not be immediately reached for comment on the report.<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 />

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

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

clampdown globally.<br />

Reporting by Abinaya Vijayaraghavan in Bengaluru<br />

Our Standards: The Thomson Reuters Trust Principles.<br />

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Source: Reuters Latest News

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