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RE: Banks Block Customers' Credit Card Purchases of Cryptocurrency
The difference is buying with a credit card is not your money. You are borrowing money to buy, so they are within their rights to refuse. If they stopped you buying with a debit card (your money) that’s a different matter!
I beg to differ, the credit card company keeps the public money in trust and loans it out.
Credit card companies create money in the same way as any other bank in the fiat system by the creation of debt. There is no money in trust. No one invests in a credit card, you borrow. That loan then becomes an asset.