Bank of America bans Bitcoin

Following the JP Morgan Chase, Bank of America, the country’s (USA) second largest bank bans Bitcoin.

Bank of America has stopped accepting credit card transactions from cryptocurrency exchanges since Feb 2, 2018. The debit card users are still unaffected by the bank. Users will no longer be able to buy cryptocurrency from Coinbase and other exchange sites via Credit card.

Decision made by Bank of America on Bitcoin is for a reason. Bank of America is trying to protect themselves against users who recklessly borrow to buy bitcoin and other cryptocurrency and then find themselves unable to pay off their debts.


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