JPMorgan Chase, Bank of America ban cryptocurrency transactions on credit cards

A growing number of big U.S. credit-card issuers are deciding they don't want to finance a falling knife.

JPMorgan Chase & Co. and Bank of America Corp., the nation's two largest banks, said they're halting purchases of Bitcoin and other cryptocurrencies on their credit cards. JPMorgan, which will implement the ban Saturday, doesn't want the credit risk associated with the transactions, said Mary Jane Rogers, a spokeswoman for the firm.