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Lloyds Banking Group has banned Bitcoin buys on credit cards

B-b-b.. is that the sound of a bubble bursting?

Lloyds bank has stopped credit card customers from buying bitcoin, amid concerns of a credit risk surrounding the cryptocurrency’s rapidly falling value.

Coming into effect today, the ban applies to Lloyds Bank, Bank of Scotland, Halifax and MBNA.

The currency has grown exponentially in the last year, peaking at $ 20,000 (£14,465) in December 2017. However, since then its value has rapidly decreased to about $ 8,000 (£5,700).

Banks are also increasingly concerned abo…
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