US based cryptocurrency exchange Coinbase announced that its US based users won’t be able to add new credit cards as a payment option from now on. The information came online on the 13th of February through an official blog post. The action is not surprising considering the recent actions of certain financial institutions.

Coinbase stated: „ At the moment, Coinbase cannot ensure customers will have a positive purchasing experience with a credit card. As a result, we have disabled adding new credit cards as a payment method for US customers. Debit cards remain unaffected by this change.”

To give a complete picture, Coinbase stated that users that already have their credit cards linked to their platform won’t be experiencing any problems if their banks are not deciding otherwise. Coinbase ensured their users also, that debit cards are still in play!

As we know, for every action, there is a reaction, and this should be a direct reaction for those previous decisions made by certain banks (including at least four US banks: JPMorgan Chase, Bank of America, Citi and Capital One) resulting in a ban for their customer’s ability to use credit cards for making online purchases for cryptocurrencies. The explanation is simple, the lack of regulations and the highly volatile nature of the market is not something that the banks sympathize with.