More Banking Woes For Bitcoin


JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. all announced a ban on purchases of Bitcoin and other cryptocurrencies on their credit cards.

 

JPMorgan, enacting the ban Saturday and Bank of America started declining credit card transactions with known crypto exchanges on Friday.

 

Full story: – https://www.bloomberg.com/news/articles/2018-02-02/bofa-to-decline-all-cryptocurrency-transactions-on-credit-cards

 

 

This comes after Visa suspended a number of crypto prepaid cards in January without warning and a number of Bitcoin companies including Bitwala announced that their banking services were suspended.

 

Shortly after that payment processor Stripe also announced that they will stop supporting Bitcoin.

 

It seems that banks are intent on cracking down on Bitcoin now and regulators are getting very active as well.

 

Which prompted us to ask again… Will Regulators and Banks kill Bitcoin?

 

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