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Publication Date<br />

Headline<br />

Outlet<br />

URL<br />

Snippet<br />

04-Feb-2018<br />

Lloyd’s Bank to ban credit card owners from buying bitcoin, says report<br />

South China Morning Post Online<br />

Click to open<br />

Lloyds Banking Group Plc will ban its credit card customers from buying bitcoin amid fears<br />

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 bought with debit cards, the<br />

paper said.<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. Prime Minister<br />

Theresa May has said Britain should take a serious look at digital currencies such as bitcoin<br />

because of the way they can be used by criminals.<br />

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

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

clampdown globally.

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