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This might be to prevent a cash back loophole. Most banks don’t allow getting cash from a credit account. The cash back loophole works like this: buy crypto on
by simplecomplex 8y ago
This might be to prevent a cash back loophole. Most banks don’t allow getting cash from a credit account.
The cash back loophole works like this: buy crypto on coinbase with credit card, then immediately sell and transfer to checking account.
- imhoguy 8y agoExactly this. Also some bank customers may buy (crypto)cash declare bankrupcy and their crypto assets will be unreachable to any debt collector or law enforcement.