Crypto purchase ban? is this a new way for the banks to control the money?
Happy Tuesday everyone! this morning a short article buried on the front page on Yahoo at the bottom caught our eye.
https://cointelegraph.com/news/us-bank-wells-fargo-bans-crypto-purchases-with-its-credit-cards
according to the article a bank spokesperson
"Customers can no longer use their Wells Fargo credit cards to purchase cryptocurrency. We’re doing this in order to be consistent across the Wells Fargo enterprise due to the multiple risks associated with this volatile investment. This decision is in line with the overall industry.”
these restrictions are happening all over the world now
Starting in February
3 banking giants J.P. Morgan Chase
Bank of America,
and Citigroup announced they would no longer permit credit card purchases of cryptocurrency.
also
In Canada, the Toronto-Dominion Bank (TD) and
India’s HDFC Bank,
UK bank, Lloyds Banking Group and
Virgin Money, which is present in Australia, South Africa and the UK
this seems to be a growing trend for now they are just blocking purchases with a credit card but what will be next?
this is Just another reason we like stacking metal!
thanks for reading and happy stacking!
Stacking metal will always protect one’s wealth, but these “bans” are just bullies going home with their balls. Crypto cannot be stopped, and we will see some explosive action in the months and years ahead...or at least that is my guess. I will continue to purchase metal and the “filthy digital lucre.” 🤑👍👍
I intend to buy a little more steem. What do you say about it?
Sure thing! FYI, i have Just opened a pay-pal account. Tryin’ it out and making sure i am verified etc., but sure thing Rono, juat lemme’ know if you want some help with that.
😎👍
First of all, I must tell you that the eagle is already flying. I hope that it will land in safety.
With steem at that price, I want to buy more. Should I wait for your Paypal or should I send the same amount to your bank?
Whichever. I will e-mail paypal link but it looks like i have a 24hr hold right now...
i live in the USA and i can still purchase with Chase
We used our chase debit card to buy steem 2 weeks ago but was told not a credit card not sure how they are enforcing it
i just bought some friday, so ... back to my original statement i have jp morgan chase and it worked. i'm not sure where that info came from but i hope it will not hit my bank anytime soon. hehe
That makes sense. That way they can buy more of it while the general public is locked out.
I like the silver whale. What map is it sitting on?
Yes ! Thank you, the whale is one of our standard pieces. We have stacks of nautical maps from Yachts that travel between the US and the Mediterranean so not sure exactly which one this is