Virgin Money Prohibits Cryptos Purchases on Its Cards

British bank prohibits using it's credit cards to buy cryptocurrency due to concern about customers running up large debts
06 February 2018   250

Virgin Money bank from Great Britain has banned purchases of cryptocurrencies on its credit cards, a spokesman said on Monday, after similar moves by Lloyds Banking Group and several U.S. investment banks. This is reported by The New Your Times.

Following a review of our policies, I can confirm customers will no longer be able to use their Virgin Money credit card to purchase cryptocurrencies. This only applies to our credit cards and not our debit card.
 

Spokesman of Virgin Money Bank

Just like Lloyds bank earlier, Virgin's ban only applies to its credit cards, not debit cards.

Like Lloyds, Virgin Money is concerned about customers running up large debts following a sharp fall in the value of digital currencies.

Over the weekend, few biggest issuers of credit cards in the United Stated also banned customers from using their cards to buy digital currency.

The list of financial firms included Bank of America, Citigroup, JP Morgan, Capital One and Discover.

Consensus 2018 summit to be held in New York City

4th annual blockchain technology summit - Consensus 2018, will take place in New York City on May 14-16
22 April 2018   41

CoinDesk has announced its 4th annual blockchain technology summit Consensus 2018 on May 14-16 at the New York Hilton Midtown. Along with the discussions on the blockchain technology, the event is going to feature a hackathon, PoW pitch competition and a scholarship award in a partnership with Zcash. Title sponsors of the event include bloq, Deloitte, Ledger, Octagon Strategy and SONM.

Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy. Among the notable speakers there will be Blockstack co-founder Dr. Muneeb Ali, J.P.Morgan blockchain program lead Amber Baldet, eToro CEO and founder Yoni Assia, Hyperledger executive director Brian Behlendorf, ConsenSys founder Steve Cerveny, Athena Capital founder Meltem Demirors and many others.

The full 3-day agenda of the event can be found here.