Although they have not officially announced their implementation, their spokesman in London said that the bank is reviewing the enforceability of this ban on a country-by-country basis.
Credit cards from Barclays Bank and Lloyds Banking Group are all prominent in the United Kingdom, one of the largest credit card providers in the United States and the United Kingdom, with one credit card selling up to a quarter of the UK total.
However, about the promulgation of this ban, Lloyds Banking Group has to take the first step. Last week, Lloyds Banking Group officially announced the ban on the use of credit cards to buy cryptocurrencies.
In response, Lloyds, a spokesman for Lloyds Banking Group, said that they also did so to protect consumers – consumers would likely have to incur huge debts if the market value of cryptocurrencies plummeted.
Source: Reuters