I'm a bit mixed on this matter. It's yet again an example of how these institutions decide for you what you can do and what not, but on the other hand it will somewhat prevent mentally challenged people from harming themselves.
It's a given rule (at least for me) that you shouldn't spend money that you don't have. Putting yourself into debt just to buy yourself some Bitcoins or whatever or coins or assets is just retarded.
People however will have their ways to avoid this measure and still be able to invest with money that they don't have. It may require them to take an extra step, but they will successfully achieve their goal anyway.
Exactly. You can't ban anything completely in the free world, there always will be opportunities to do it one way or another. in fact they are not even trying to ban it completely:
The Bank of America ban is limited to credit cards, and will not impact customers who wish to purchase cryptocurrencies using debit or ATM cards
It's like with the online gambling ban which can be easily evaded. I don't think it's always a good thing though, because I agree with you that no way people should go in debt to buy crypto currencies. But it's impossible to protect them from doing so with whatever ban implemented.