J.P. Morgan Chase and Bank of America Ban Credit Card Crypto Purchases

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Customers holding bank cards with Bank of America (NYSE:BAC), J.P Morgan Chase (NYSE:JPM) and Citigroup (NYSE:C) at the moment are unable to purchase cryptocurrencies with their bank cards. CNBC was the primary to report this news yesterday as all three banks confirmed their ban.

A representative at J.P Morgan Chase told CNBC:

“Right now, we aren't processing cryptocurrency purchases using bank cards, because of the volatility and risk involved. We'll review the difficulty because the market evolves.”

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