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Wells Fargo Bans Crypto purchases on its credit card


xtinepink

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Most people uses credit cards to buy cryptocurrencies especially when buying some bitcoins because it is easier to do so. 

Although there are many companies already been being strict about this and banned these like Citigroup Inc., JPMorgan Chase & Co. and Bank of America Corp. Now Wells Fargo comes in to join them as they will also ban this activity.

Since it is high risk investment. These lenders are worried and they’d be left on the hook if a borrower lost money on a digital currency bet and couldn’t repay.

what are your thoughts? 

Source: 

https://www.bloomberg.com/news/articles/2018-06-11/wells-fargo-bans-cryptocurrency-purchases-on-its-credit-cards

 

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