Per their tweet yesterday, the following banks are now blocking the purchase of digital currencies with their branded credit cards.
Chase
Bank of America
Citi
Capital One
How do you see this affecting the market?
Buying cryptocurrency with credit cards are risky. Imagine if a investor is in credit debt and decide to purchase some crypto which runs his debt higher and the coin he/she buy crashes. What happens if these coins takes a few month to recover or worst never recover. How he/she is going to pay off that debt. I think that a mess. So it good the banks did ban it. The banks have to protect their shelves too.