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HomeCryptocurrency NewsWells Fargo banned buying cryptocurrency with it's credit cards

Wells Fargo banned buying cryptocurrency with it’s credit cards


Wells Fargo, following other major US banks, has banned the use of its credit cards for the purchase of cryptocurrency, Bloomberg agency reports.
“Banning the purchase of cryptocurrency, the bank will continue to study the issue as the market develops,” the representative of the institution, Shelley Miller, said in an e-mail.
Previously, other large banks have imposed bans on the purchase of digital currencies: JPMorgan Chase, Bank of America and Citigroup, which together with Wells Fargo constitute the so-called “big four” of US banks.
The pressure on the cryptocurrency market is not only limited by financial giants. On Tuesday, the bitcoin price fell by more than 6% on reports of breaking the South Korean crypto exchange.

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