Post
Topic
Board Bitcoin Discussion
Re: BREAKING NEWS : Bank of America and JP Morgan Are banning CC purchases
by
drakegon
on 13/02/2018, 20:53:33 UTC
JP Morgan is aiming to ban CC on February 3rd and Bank of America to ban CC on February 2nd.


Looks like for right now they will only be banning CC purchases, which is not as bad as it sounds. If someone steals your CC and maxes it out buying cryptocurrency, then that could be a huge problem. Plus people can likely max it out as a way of getting "lent" money they cant afford to pay back.

As long as you can make Bank wires, and Debit card purchases this really shouldn't be a big deal.






Source: https://www.coindesk.com/report-bank-america-jp-morgan-ban-credit-crypto-purchases/


Also dont forget Bank of America has a patent for an exchange system : https://www.coindesk.com/bank-of-america-outlines-cryptocurrency-exchange-system-in-patent-award/

This is just part of the regulations that are necessary for the cryptos. Sooner or later more regulations like this will be applied, in the interest of the people of course.