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Lloyds and Virgin Money ban credit card users from buying Bitcoin

Lloyds and Virgin Money ban credit card users from buying Bitcoin

The cryptocurrency gained as much as 4,880% in US dollars and as much as 5,000% against Bitcoin. Here's the latest price action and news from the cryptocurrency world.

The Ripple price (XRP/USD) has seen a bit of a rebound after falling earlier today to its lowest level in more than seven weeks.

The biggest virtual currency sank as much as 17 per cent to as low as US$5,922, before trading little changed as of 9:12 a.m.in NY, according to Bloomberg composite pricing.

The cryptocurrency plunge came as the Dow dropped more than 1,000 points on Monday after closing 666 points on Friday. Ethereum, the second-largest by market value, was up 1.8 percent over the past 24 hours at US$751.48, while the third-largest, Ripple, edged up 0.5 percent at 73 U.S. cents, according to cyrptocurrency tracker coinmarketcap.com. Investors seeking to trade Ripple must first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Gemini.

Peercoin (CURRENCY:PPC) traded 15.8% lower against the dollar during the one day period ending at 17:00 PM E.T. on January 29th.

Credit card companies are always anxious about the impact of spending on their business, and this cryptocurrency public feeding frenzy is no exception. Institutions such as Discover Financial Services and Capital One Financial Corp, confirmed some time ago that they do not allow crypto-based purchases. A similar situation seems to be playing out here. It's the lowest price for bitcoin since November 16. The country's finance ministry said yesterday it is attempting to stop cryptocurrencies like Bitcoin from entering the mainstream.

German automakers funded diesel emissions tests on humans, local media says
For his part, chairman of supervisory Board of Volkswagen , Hans Dieter Pötsch, has distanced himself from experiments. The German government said on Monday that any auto emissions testing on monkeys or people was unjustifiable.

The list of big-time investors warning people about cryptocurrencies continues to grow.

"Maybe I'm too old for them, but I wouldn't touch that stuff", Icahn said. This week's selloff has coincided with a rout in global equities, with markets in Asia extending losses on Tuesday following a white-knuckle day for USA stocks.

The government will not recognize Bitcoin or other currencies as legal tender.

Icahn questioned how they worked and how they should be regulated before stating that he "wouldn't touch that stuff".

Bitcoin has slumped in recent sessions as a risk-off mood spread across financial markets.

Prices steadied as Securities and Exchange Commission Chairman Jay Clayton reiterated in a Congressional hearing that he believes every initial coin offering he's seen is a securities sale and the agency already possesses the regulatory oversight needed for enforcement. And lack of regulation has been cited as a reason for rejecting cryptocurrency ETFs, so if cryptocurrencies were to fall under the SEC's regulatory authority, it could open the door for bitcoin and other cryptocurrency ETFs.

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