U.S Banking Giant Wells Fargo Prohibited Crypto Transactions
Matthew Lam Jul 15, 2019 03:00
Founded in 1852, U.S traditional banking giant Wells Fargo prohibits crypto transactions for its customers, as revealed by the tweet on 13 July.
Founded in 1852, U.S traditional banking giant Wells Fargo prohibits crypto transactions for its customers, as revealed the tweet on 13 July.
Source: Twitter of Ask Wells Fargo
Customers claimed that they cannot link their bank account of Wells Fargo to buy crypto on any cash app or Coinbase. Their debit cards cannot be attached with the error message “card not found”. Wells Fargo's response was that crypto transactions are not allowed, reiterating its unfriendly stance towards Bitcoin.
This is not the first time Wells Fargo expressed their unfriendly stance towards crypto. In June 2018, Wells Fargo banned crypto purchases on its credit cards, citing high volatility and multiple risks involved in cryptocurrencies.
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