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Publication Date<br />

Headline<br />

Outlet<br />

URL<br />

Snippet<br />

04-Feb-2018<br />

Lloyds Bank in Bitcoin crackdownCredit card owners banned from buying cryptocurrency<br />

amid fears over losses<br />

The Telegraph (Online)<br />

Click to open<br />

Britain's biggest bank has become the first to announce a ban on customers using credit<br />

cards to buy Bitcoin amid fears they could run up huge losses.<br />

Lloyds Banking Group will on Monday tell its 9 million credit card customers that it will block<br />

any attempts to buy Bitcoin after the digital currency lost more than half its value in just two<br />

months.<br />

The price of Bitcoin has fallen by 57 per cent from £14,000 in December to less than £6,000<br />

and the bank fears it could end up footing the bill for unpaid debt should the price fall any<br />

lower.<br />

It is believed that hundreds of thousands of British people invested in the cryptocurrency last<br />

year amid its extraordinary 13-fold increase.<br />

But from Monday credit card customers of Lloyds, which includes Halifax, Bank of Scotland<br />

and MBNA, will be blocked from buying the cryptocurrency online via a blacklist which will<br />

flag up sellers. While Lloyds is...

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