Three Major Banks Won’t Allow Crypto Currency Transactions

One bad news is there for those who are hoping to buy Bitcoin with Credit cards. There are total three popular banks, which have already confirmed that will not allow the cryptocurrency to deal with their credit cards.  Those three banks are Bank of America, JP Morgan Chase, and Citigroup. From many days, it has already said that cryptocurrencies are neither legal nor illegal in general. But as now it has been totally cleared out that these banks are rejected the cryptocurrency to deal through their payment cards. On the other hand, you can user your other debit cards to purchase the Bitcoins.

Some peoples have a craze to deals with the Bitcoins in general. Whether there is a risk, exist to deal with Bitcoins. If the currencies faced any problem for lenders, then the customer will not able to repay loan amounts. Sometimes, stolen cards are also used in many cases to purchase the cryptocurrency at a huge rate. Thus, it increases the rate of corruption in many places. Depending on this situation, three major banks have confirmed that they will not allow their credit cards to transact with cryptocurrencies.

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Another important point behind blocking cryptocurrency by three banks is that it is very much tough to monitor the cryptocurrencies for them. Therefore, it hampers the other services provided by the bank to their customers. It is also not possible to maintain the situation or to look after the signs of money laundering. Overall, if we say that, it is a big problem for lenders to maintain the digital currencies according to market chase. So gradually may every bank will start to refuse the payment or transactions of cryptocurrencies through their credit cards and debit cards as well.

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