Lloyds bank bans buying bitcoin

Lloyds bank has stopped credit card customers from buying bitcoin, amid concerns of a credit risk surrounding the cryptocurrency's rapidly falling value. Banks are also increasingly concerned about the use of Bitcoin purchases by miscreants, fraudsters and money launderers. A spokeswoman for UK-based Lloyds said: Lloyds is in the process of eliminating 1, jobs across the group.

The banking group is the first in the UK to ban users from buying Bitcoin, with an increasing number of US credit-card companies and banks having halted the purchase of Bitcoin and other cryptocurrencies on credit cards last week. JPMorgan enacted the ban on Saturday, with a company lloyds bank bans buying bitcoin telling Bloomberg it did not lloyds bank bans buying bitcoin the credit risk associated with the transactions. Last month, Facebook banned ads for cryptocurrencies on suspicion that plenty of them will be placed by scammers.

Lloyds customers can still buy on debit, if they have the appetite. Like, er, lloyds bank bans buying bitcoin guy The Register - Independent news and views for the tech community.

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Australian central bank says 'speculative mania' and crime fuel Bitcoin Why use a slow expensive risky currency when you can do real-time bank-to-bank transfers?

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