Commonwealth Bank of Australia forbade buying digital currency by credit
The conglomerate of Commonwealth Bank of Australia joined the group of banks, who had forbidden buying cryptocurrencies using credit cards. Yet, the organization may reconsider its position depending on the market’s volatility and dynamics. Debit cards, however, are still in use.
Previously, some other large banks, including Lloyads Bank, Santander Totta, Bank of America, made the same decision due to the questionable reputation and lack of reliability of cryptocurrencies. The American crypto-exchange Coinbase shut down the credit payment method in the US, although many users chose this method as the main one. The exchange is planning to do the same to The United Kingdom, Canada, European Union and Singapore.