Citibank India Bans Crypto Purchases on Both Credit and Debit Cards

Citibank India is the latest lender which is now tightening the squeeze  
14 February 2018   1179

According to the email dated February 13, Citibank banned the opportunity to use debit and credit cards in order to buy cryptocurrencies.

The email stated that the Reserve Bank of India, cautioning members of the public regarding the potential economic, financial, operational, legal, customer protection, and security-related risks associated with dealing with bitcoins, cryptocurrencies, and virtual currencies, Citi India has decided to not permit use of its credit and debit cards towards purchase or trading of such  cryptocurrencies.

In India, Citibank banned cryptocurrency-related transactions both on credit and debit cards. By contrast, the US Citibank forbade customers from borrowing money only on credit cards for such purchases.

Consequently, this case of banned cryptocurrency-related transactions isn’t the first. Banks like Lloyds, JP Morgan Chase & Co, and Bank of America, too, forbidden customers from using credit cards issued by them to buy cryptocurrencies. More than that, India’s income-tax department has also issued notices to about 100,000 such investors, seeking to tax their profits.

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for the macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   129

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.