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| Version 2 | Version 3 |
|---|---|
| Big banks crack down on bitcoin | Big banks crack down on bitcoin |
| (about 5 hours later) | |
| Transactions with bitcoin and other cryptocurrencies are no longer available for 8 million credit card users of Lloyds Banking Group, which unites Lloyds Bank, Bank of Scotland, Halifax and MBNA. | Transactions with bitcoin and other cryptocurrencies are no longer available for 8 million credit card users of Lloyds Banking Group, which unites Lloyds Bank, Bank of Scotland, Halifax and MBNA. |
| The ban will not apply to debit cards, only to credit cards issued by the group. | The ban will not apply to debit cards, only to credit cards issued by the group. |
| “Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” said a company spokeswoman. The decision was made to "protect customers," Lloyds said. | “Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” said a company spokeswoman. The decision was made to "protect customers," Lloyds said. |
| Lloyds’ move follows bans at the weekend from American banks JP Morgan Chase, Bank of America and Citigroup. | Lloyds’ move follows bans at the weekend from American banks JP Morgan Chase, Bank of America and Citigroup. |
| The ban comes as holders of bitcoin and other cryptocurrencies continue to suffer a steep plunge in the value of their holdings. Lloyds said it fears that credit card owners will buy cryptocurrencies in the hopes of making a profit, but will have to repay the debt when the price falls. | The ban comes as holders of bitcoin and other cryptocurrencies continue to suffer a steep plunge in the value of their holdings. Lloyds said it fears that credit card owners will buy cryptocurrencies in the hopes of making a profit, but will have to repay the debt when the price falls. |
| British Prime Minister Theresa May has said the UK should look “very seriously” at digital currencies as they can be used by criminals. | British Prime Minister Theresa May has said the UK should look “very seriously” at digital currencies as they can be used by criminals. |
| Bitcoin has fallen below $7,000, trading 16 percent lower on Monday. It is now over 60 percent below its record high of $20,000 reached in December. All but two of the top 100 cryptocurrencies on Coinmarketcap’s list were down at 10:30 GMT, with some losing as much as 24 percent of their value. The exceptions are #64 bitcore (4 percent growth) and #83 xplay (43 percent growth). | |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |