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Publication Date<br />

04-Feb-2018<br />

Headline Lloyds Bank to ban credit card owners from buying Bitcoin: ...<br />

Outlet<br />

URL<br />

Snippet<br />

investing.com<br />

Click to open<br />

(Reuters) - Lloyds Banking Group Plc (L:LLOY) will ban its credit card customers from<br />

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

Sunday. Britain's biggest mortgage lender will block any attempts to buy the digital currency<br />

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

cards, the 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.<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.

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