Crypto Purchases With Credit Cards Banned By JP Morgan, Bank of America

Announcements, News | February 5, 2018 By:

JP Morgan Chase, Bank of America, and Citigroup have placed a ban on cryptocurrency transactions via credit cards.

JP Morgan enacted the ban on Saturday, saying the bank doesn’t want the credit risk associated with the transactions. “At this time, we are not processing cryptocurrency purchases using credit cards due to the volatility and risk involved,” a JP Morgan Chase spokesperson said in a statement.