16/07/19 10:00 UTC-4

Wells Fargo bank prohibits the purchase of cryptocurrency to its customers

Wells Fargo prohibits the purchase of cryptocurrencies
Wells Fargo prohibits the purchase of cryptocurrencies

Wells Fargo, a well-known traditional bank, does not allow its customers to make a purchase of cryptocurrency using their own savings.


Crypto ban from Wells Fargo

The discussion began on Twitter, when users complained that they could not use their Wells Fargo debit cards to make crypto-purchases in Coinbase and Cash applications.

Interesting in the section: Coinbase Cryptobusiness Exchange: an overview of the exchange platform

Soon, a Wells Fargo representative confirmed that the company no longer allows cryptocurrency related transactions.

This happened about a year after the bank banned the use of credit cards for crypto-purchases. Now, purchases of crypto, even using their own money are not allowed.

Some people on Twitter find this a bit hypocritical, considering that in other places you can still use the Wells Fargo card.

However, it seems that Wells Fargo is taking on too much, deciding what is best for its customers without their consent, in which situation the bank risks losing a large number of customers.

Wells Fargo bank informed clients about the prohibition of the use of personal funds for the purchase of crypto. Recall, on July 13, in anticipation of the hearing in the Congress of representatives of the company Facebook, a new bill appeared that could supposedly prohibit the release of the Libra payment system.

Editor: Godfrid Brower

See also: "MyDashWallet platform was hacked for two months"

#Bank #Wells Fargo #cryptocurrency #ban



16/08/19 07:00 UTC-4

A Wall Street analyst is confident in the growth of Bitcoin

Yesterday, August 15, a prominent Wall Street analyst and co-founder of Fundstrat Global Advisors financial agency, Tom Lee, said he was confident in the imminent increase in the value of digital gold. According to an interview at Fox Business, by the end of 2019, cryptocurrency could hit a new historic high.

13/08/19 07:49 UTC-4

Ethereum cryptocurrency will be at $1000: survey results

A few days ago, on August 10, Nick Patel, a well-known trader and author of the bestseller about altcoins, conducted a social poll on his Twitter, which concerned the value of the second cryptocurrency by capitalization level – Ethereum. The results showed that more than half of the respondents are sure that the coin rate will be above a thousand US dollars.

31/07/19 05:10 UTC-4

The US Senate held a hearing on regulatory cryptocurrency issues

Following the previous hearings in mid-July, on July 30, the US Senate Banking Committee on the regulatory framework for cryptocurrencies and blockchains held a hearing entitled "Study of the regulatory framework for digital currencies and blockchain."

Fiat money, funds