Lloyds bank has stopped credit bank of america bitcoin reddit 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 spokeswoman telling Bloomberg it did not want 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, this guy The Register - Independent news and views for the tech community. Part of Situation Publishing. Join our daily or weekly newsletters, subscribe to a specific section or set News alerts. The Register uses cookies. But I did log in to the portal, Dave.
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