J.P. Morgan Chase and Bank of America Ban Credit Card Crypto Purchases

Customers holding credit cards with Bank of America (NYSE:BAC), J.P Morgan Chase (NYSE:JPM) and Citigroup (NYSE:C) are now unable to purchase cryptocurrencies with their credit cards. CNBC was the first to report this news yesterday as all three banks confirmed their ban.

A representative at J.P Morgan Chase told CNBC:

“At this time, we are not processing cryptocurrency purchases using credit cards, due to the volatility and risk involved. We will review the issue as the market evolves.”

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