RATE Group | With Covid-19 Support, Can Wells Fargo Also Allow Bitcoin Purchase?
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With Covid-19 Support, Can Wells Fargo Also Allow Bitcoin Purchase?

22 Mar With Covid-19 Support, Can Wells Fargo Also Allow Bitcoin Purchase?

Posted at 04:54h in Bitcoin News by

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On Friday Wells Fargo announced that in response to the COVID-19 outbreak it would be suspending evictions, residential foreclosure property sales, and automobile repossessions. These moves may appear altruistic, yet taking steps to allow customers to purchase bitcoin would be an equally beneficial service.

Banks Now Making Major Concessions, But when Bitcoin? 

Wells Fargo is one of many banks that are now granting customers leniency. Some are now permitting mortgages to be paid late. Others are doing the same for credit card payments. It is safe to assume that they will make many more concessions as this global crisis unfolds.

Although these moves are laudable if Wells Fargo wishes to make a true impact on the well-being of its customers now is the time to end its draconian policy of blocking all-things-crypto. Since last year it has routinely refused access to exchanges and other institutions that provide fiat onramps for bitcoin. It has prevented credit card purchases since…

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