Apple will ban the purchase of cryptocurrencies with its credit card

Users of the new Apple credit card will face a number of restrictions, one of them is the purchase of cryptocurrencies.

According to Reuters, the terms of use for the new credit card were published on the Goldman Sachs website this week. Goldman’s participation in the card issuance is part of a long-term partnership program between the bank and Apple to create a consumer-oriented business.

Part of the Apple Card customer agreement includes a clause prohibiting the purchase of cryptocurrencies. Limitations also apply to the purchase of casino chips, betting on races or lottery tickets. The publication also says that credit card issuers often block purchases of bitcoin and other cryptocurrencies. Some banks have been practicing this for more than one year.

Under the terms of the customer agreement, Apple will also block users ’credit cards if any attempt is made to make unauthorized changes to Apple devices. Apple Card is due to be released later this month.

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In June, it became known that Apple will release
cryptographic toolkit for CryptoKit developers.