Bitcoin ban at Lloyds Banking Group.
Could the latest Bitcoin ban from the Lloyds Banking Group be the start of the end for the Cryptocurrency?
With the Lloyds Banking Group (Lloyds, Bank of Scotland, Halifax, MBNA) taking active measures to stop potential debt on it;s credit cards. This move to limit Bitcoin use could be the start of a series of regulations on the much disputed Bitcoin.
As of today, Lloyds Bank have banned its clients using credit cards for buying Bitcoin. The move comes as the cryptocurrency plummets in value, leaving credit card users with potential debt. Although this doesn’t effect debit card users, it will have a knock on effect.
Bitcoin trading is down too, finishing the week 30% down at $8,291.87. A significant drop on its $19,000 peak back in November.
The Bitcoin ban at Lloyds will be seen as a step in the right direction from the UK Government and Police force. Legislation hasn’t been amended to deal with the Cryptocurrency, and this is cause for concern in the fight against money laundering.
Bitcoin in Online Gambling
Bitcoin has had a measured success in use in online gambling platforms, and is still an accepted form of currency. There are restrictions, and each site that allows Bitcoin has terms and condition regarding their use.
Players that use the mobile gambling portals already have restrictions due to both Apple and Google bans.
As an online commodity Bitcoin is still worth trading, but if the treasury starts to look a little closer, then Bitcoin as we know it could change for good.
Online Gambling 18+ players only. Use of Bitcoin is restricted and strict requirements apply. Read T&C’s before playing.
