The collapse of bitcoin caused the banking industry to worry that credit card buying channels would be closed


Bitcoin prices fell below $7,000 for the first time since mid-November, marking a continuation of market weakness over the past week. CoinDesk's bitcoin price index hit a low of $6888.45, and its daily decline was 15%. The continued decline in bitcoin has led to further restrictions on the banking sector. 
The Banks in the United Kingdom and the United States have banned the use of credit cards to buy bitcoins and other "encrypted currencies" because of fear of a slump in value that causes customers to fail to repay their debts. Both the British Lloyd bank and the UK Virgin Group said they would ban customers from buying encrypted money through credit cards, before the same ban was also issued by American banking giant J.D. Morgan and Citigroup. A spokeswoman for the Lloyd bank said the aim was to protect consumers from carrying huge debts in the case of the dump value of the virtual currency. As credit card users increasingly use credit cards to fund online trading accounts, encrypted currencies are the main source of funds. The worries of credit card dealers have also increased. However, some banks say they will continue to allow customers to purchase encrypted currencies through credit cards. Barclays, a spokesman for Barclays in Britain, said Monday that Barclays has been reviewing its own protection of customers as a responsible bank and lending institution, and will pay close attention to the problem. At present, British customers can use their Barclays debit card and barclera credit card to purchase the encrypted money legally. Last week, MasterCard, the world's second largest payment network, said that in the fourth quarter, the number of customers buying encrypted money with credit cards increased by 1 percentage points of overseas transactions. At the time, the value of Bitstamp coins rose sharply, peaking at 19,1987 dollars on the Luxembourg Bitstamp exchange on December 16. But the largest and most well-known encrypted currencies have fallen sharply since that time, falling more than 10% on Monday and falling below $7000, continuing the recent fall, as markets are worried about the pressure of global regulators. A MasterCard spokesman said the decision to allow credit card users to buy encrypted currencies was a credit risk decision made by the issuing bank. A spokesman for the chase bank said there was no credit card purchase dealing with encrypted currency because of market volatility and risk, and the Citigroup spokesman confirmed a similar ban, but no reason was given. A spokesman for the Lloyd bank said in an email that the Lloyd bank, the Bank of Scotland, and the Halifax bank did not accept credit card transactions involving the purchase of encrypted currency. While the Daily Telegraph reported on Sunday (February 4th) that credit card customers would be banned from buying bitcoins via a "blacklist" on the Internet, the Lloyd bank did not explain how to implement the ban. A spokesman for Royal Bank of Scotland declined to comment on the bank's policy. Before, British Prime Minister Teresa? Mezeng said Britain should take seriously the encrypted currencies such as bitcoin because they may be used by criminals.

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