As reported by Bloomberg , the two top banks of the United States of America, JPMorgan Chase and Bank of America introduced a ban on crypto-currency transactions using credit cards.
CEO Jamie Dimon recently recognized Bitcoin a few months ago. Through speculation on the price of very volatile investments, such as Bitcoin, investors exposed the bank to a higher risk of default, perhaps experts did not consider this scenario. Meanwhile, banks and regulators are working in tandem to identify signs of fraud, and eliminating credit cards from the equation somewhat simplifies it.
The ban of JPMorgan comes into force today, the ban by the Bank of America came into effect immediately after the message in the media.
This step, no doubt, will cause investors to scramble, as some of them have an automatically configured purchase on exchanges.
It should be noted that JPMorgan Chase and Bank of America are not the first banks that make such a decision about Bitcoin. Discover and Capital Ona have already excluded crypto-currency payments from the list of services.