Aussie Bank Joins Crypto Ban
Commonwealth Bank of Australia joined a growing list of banks blocking its customers from buying cryptocurrencies.
Citing the unregulated and highly volatile nature of virtual currencies, Commonwealth Bank of Australia's (CBA) customers will no longer be able to use their CBA credit cards to buy cryptocurrencies, the bank said on its website.
The move is the latest in a series of actions by leading banks shunning exposure to digital currencies. Citi, Bank of America and J.P. Morgan recently said that they are no longer allowing customers to pay for cryptocurrencies using credit cards.
Asian investors, particularly in Japan and Korea, remain key acquirers of digital currencies. As yet no Asian bank has intimated a ban on credit card purchases of cryptocurrencies.
