/biz/ - Business & Finance

UK Banks Hate Bitcoin Anonymous Sun Feb 4 21:02:28 2018 No.7302385 [View]
File: 74 KB, 512x410, BTFO.jpg [View same] [iqdb] [saucenao] [google]

http://www.bbc.co.uk/news/business-42940728

Lloyds Banking Group has banned its customers from buying Bitcoin on their credit cards following a sharp fall in the value of the digital currency.

The ban, starting Monday, applies to Lloyds Bank, Bank of Scotland, Halifax and MBNA customers.

It will not apply to debit cards, only to the banking group's eight million credit card customers.

Lloyds fears people are buying Bitcoin to make a profit if its value rises but face debts if it falls.

It is concerned it could end up footing the bill for unpaid debts should the price continue to fall.

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