Why Did Banks Ban Cryptocurrency Purchases Using Their Credit Cards?
Banks have increasingly banned the use of credit cards to purchase cryptocurrencies due to concerns over consumer debt risks and the volatile nature of digital assets. Major U.S. banks such as JPMorgan Chase, Bank of America, Citigroup, Capital One, and Discover have prohibited their credit card holders from buying cryptocurrencies. These institutions fear that the extreme price fluctuations in cryptocurrencies could leave consumers unable to repay their credit card debts […]
