Credit card is a popular electronic payment method. When buying virtual currency such as Bitcoin (Bitcoin), people often use credit card to pay. However, some banks have begun to examine the risks, and some have even banned the use of credit cards to purchase Bitcoin.
British Rice Bank Group announced that all its banks have stopped using credit cards to purchase virtual currency, over worries about the continued decline in value will put customers at huge asset losses.
The price of Bitcoin has dropped from a peak of over US$19,000 to approximately US$8,000 recently. Some banks worry that customers will suffer huge asset losses and prohibit the use of credit cards for purchases.
According to the US CNBC report, Rice Bank Group announced this measure on Monday. Its subsidiary Rice Bank, Bank of Scotland, Halifax and credit card company MBNA will not accept credit card purchases of virtual currency from today (February 5, local time).
