Two of the largest American Bank has limited opportunities to purchase cryptocurrency for its clients

Two of the largest American Bank has limited opportunities to purchase cryptocurrency for its clients

The two largest us banks: Bank of America and JPMorgan Chase, decided to turn off to their customers the ability to purchase bitcoins using credit cards.

According to Bloomberg, JPMorgan for clients of the ban will come into force on 3 February and Bank of America the ban came into force yesterday, 2nd Feb. The main reason for the ban is concerns about credit risk, those customers who invest in crypto-currencies using credit.

The ban limited the Bank of America credit card and will not affect who want to buy cryptocurrencies using a debit or ATM card.

Bloomberg also reports that additional reasons for such actions were the rules against money laundering, as well as fears that in case of data theft on the map, the attackers will be able to buy cryptocurrency, and such operations can not be undone.

Like JPMorgan, Bank of America is also concerned that customers may purchase more cryptocurrency than they can afford. As for the other banks, as far as we know, many of them simply increased the fee for operations with cryptocurrencies.

Citigroup Inc. the third largest Bank in the country, still undecided with regards to cryptocurrency transactions. Joining other large banks, Capital One Financial Corp. and Discover Financial Services have stated earlier that do not support such transactions.

Recall that recently Facebook has banned the advertising of cryptocurrency and cryptocurrency projects on its platform due to the fact that in their opinion in this area, a lot of fraudulent projects.

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