Visa Says You Can Buy Almost Anything, Except Crypto Currencies

1. visa says you can purchase The stated reasons are impossible to believe - such as trying to curtail money laundering, gaming, and protecting the retail investor from excessive risk. The banks will allow debit card purchases, making it very clear that the only risks being protected are their own.bitcoin casino Having a credit card you are able to gamble at a casino, purchase firearms, drugs, alcohol, porn, anything and everything you would like, but some banks and credit card businesses wish to prohibit you from using their facilities to buy crypto currencies? There have to be some believable reasons, and they are NOT the reasons mentioned.bitcoin casino us One thing that banks are fearful of is how difficult it is to confiscate CC holdings once the charge card holder defaults on payment. It would be much more difficult than re-possessing a home or a vehicle. A crypto pocket's personal keys can be placed on a memory stick or a sheet of paper and readily taken out of the country, with very little or no trace of its whereabouts. There may be quite a high value in certain crypto pockets, and also the credit card debt may never be reimbursed, causing a declaration of bankruptcy and a significant reduction for the bank. The pocket still includes the crypto currency, and the owner can later get the private keys and use a local CC Exchange at a foreign country to convert and pocket the cash. A nefarious scenario really. We are certainly not advocating this kind of unlawful conduct, but the banks are aware of the possibility and a unumber of them want to close it down. This can not happen with debit cards since the banks are never out-of-pocket - that the money comes out of your account instantly, and only if there's enough of your money there to start with. It is interesting that Canadian banks aren't jumping on this bandwagon, perhaps realizing that the stated motives for doing so are bogus. The fallout from these actions is the fact that consumers and investors are now aware that credit card companies and banks actually do have the capacity to limit what you could buy with credit card. This isn't the way they market their own cards, and it is probably a surprise to many consumers, who are quite utilised to choosing for themselves what they will purchase, especially from CC Exchanges and the rest of the merchants who have established Merchant Agreements with these banks. The Exchanges have done nothing wrong - have you - but fear and greed in the banking industry is causing strange things to occur.