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Bank of America and JPMorgan have banned the use of credit cards for the purchase of cryptocurrency



Banks are worried that their customers can buy more than they can afford.



05.Feb.18 1:00 AM
By Mark Gainer
Photo Toinnov.com

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Bank of America and JPMorgan have banned the use of credit cards for the purchase of cryptocurrency
Vast US financial holdings of Bank of America and JPMorgan Chase began to reject payments for the cryptocurrency, which their customers spend using credit cards. This is written by the online edition of ForkLog.

In JPMorgan, the ban on card transactions was explained by fears of credit risks, and at Bank of America - the desire to comply with the rules for combating money laundering, as well as the potential for converting stolen credit cards to cryptocurrency. The Bank of America also stressed that the ban applies only to credit cards and bank customers can still purchase digital currencies through debit cards.

Also, both significant banks are concerned that their customers can buy more cryptocurrency than their capabilities allow. According to reports, other US banks have raised fees for the purchase of digital assets, or are going to do so.

It should be noted that in early January, the largest issuers of debit bitcoin-cards announced the closure of this product for non-residents of the United States, after the payment system Visa decided to stop supporting transactions with their use in Europe.



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