US Bank Wells Fargo Bans Crypto Purchases With Its Credit Cards

Cointelegraph

Published Jun 11, 2018 06:10PM ET

Updated Jun 11, 2018 07:22PM ET

US Bank Wells Fargo Bans Crypto Purchases With Its Credit Cards

San-Francisco-based bank Wells Fargo (NYSE:WFC) has announced that it will no longer allow its customers to purchase cryptocurrency using its credit cards, Fortune reported June 11.

Wells Fargo, which is the third largest bank by assets in the US, said that its customers are now prohibited from purchasing digital currency on their credit cards issued by the financial institution. A bank spokesperson said that the decision was made in order to avoid “multiple risks” associated with cryptocurrency usage:

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