Large US financial organizations, such as Bank of America and JPMorgan began to reject payments for the purchased cryptocurrencies, carried out by their customers, who were using credit cards.
JPMorgan began to prohibit such transactions on February 3 because of “fears associated with credit risks.” Bank of America began the same unpleasant procedure a day earlier – transfers have been declined since February 2.
It is noted that the ban of Bank of America applies exclusively to credit cards. Customers who wish to purchase digital assets using debit cards can still do so. In addition, JPMorgan and Bank of America are concerned that customers can buy more cryptocurrency than they can afford. Other big banks are collecting or have already raised the commission for the purchase of digital assets.