Representation of the Bitcoin virtual currency standing on the PC motherboard is seen in this illustration picture, February 3, 2018. REUTERS/Dado Ruvic/Illustration
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Banks in Britain and the United States have banned the use of credit cards to buy Bitcoin and other "crypto currencies", fearing a plunge in their value will leave customers unable to repay their debts.Lloyds Banking Group Plc., Britain's biggest lender, said Sunday it would ban its credit card customers from buying crypto currencies, following the lead of U.S. banking giants JP Morgan Chase & Co and Citigroup.A spokeswoman for Chase bank said it is not currently processing credit card purchases of crypto currencies because of the volatility and risk involved, while a Citi spokeswoman confirmed a similar ban, but did not give a reason.Concerns about the use of Bitcoin and other such currencies extend beyond the use of credit cards for borrowing.
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