According to a Bloomberg report, JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. The banks do not want the credit risk associated with the transactions. There is also the risk that thieves will abuse cards that were purloined or based on stolen identities, turning them into crypto hoards.
Credit Card Issuers Ban Cryptocurrency Purchases
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David Zaslowsky
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David Zaslowsky has a degree in computer science and, before going to Yale Law School, was a computer programmer. His practice focuses on international litigation and arbitration. He has been involved in cases in trial and appellate courts across the United States and before arbitral institutions around the world. Many of David’s cases, including some patent cases, have related to technology. David has been included in Chambers for his expertise in international arbitration. He is the editor of the firm's blockchain blog.