Should banks let people buy bitcoin with credit cards?
from American Banker
The fintech startup Abra's decision to let customers use credit cards to buy cryptocurrency — a move at odds with recent actions by Bank of America, JPMorgan Chase, Citigroup, Capital One and Discover — is again raising the question of whether the practice is too risky for financial institutions to allow. The big banks made their move in February after a precipitous drop in the value of bitcoin, Ethereum, Ripple and Bitcoin Cash, worried that crypto buyers, some of them highly leveraged, would buy high and balk when the credit card bill came due and their currency was worth far less than its purchase price.
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