Major banks are concerned over their customers buying cryptocurrencies using credit cards and some has banned the practice. Mimicking Facebook's move, Chinese social media website have shunned cryptocurrency-related advertisements. And India continues to talk tough on cryptocurrencies, even refusing to call them "currency".
Here is a wrap up of the main news from the crypto space in the last 24 hours.
Major Banks Ban Bitcoin Purchase With Credit Cards
Banking majors around the world, including JPMorgan Chase, Bank of America, Citi, and Lloyds Banking, have banned their customers from buying bitcoin, the highly volatile cryptocurrency leader, or other cryptocurrencies with a credit card. A JPMorgan Chase spokesperson reportedly cited the volatility and risk involved as the reasons. It was last week, that reports said the bank allowed customers to buy cryptocurrencies with its credit cards. Read more...
India Govt Official: 'Crypto Assets' Group To Submit Report In 2 Months
A top official of the Indian government said Monday that a group tasked with exploring the scope of regulation for cryptocurrencies is set to submit its report in the next two months. Subhash Chadra Garg, who is the economic affairs secretary, said in a interview with financial news website Moneycontrol that a group on crypto assets under his chairmanship is in the last stages of deliberation and plans to submit a report covering the government's approach to the entire spectrum. Read more...
Cryptocurrencies Growing Popular Among Athletes: Report
Amercian football player, Richard Sherman, told CNBC that athletes are growing curious about cryptocurrencies. "Especially the way bitcoin boomed from nothing to ... $19,000 at one point, that really caught the eye of a lot of people," he said. "Ever since then it has been common conversation for a lot of us." Sherman began accepting bitcoin for merchandises on his website as early as 2014.
South Korea Says North Stole Cryptocurrencies Worth Billions Last Year: Report
North Korea stole billions won worth of cryptocurrencies last year from the South through computer hacking, news agency Reuters reported Monday. "North Korea sent emails that could hack into cryptocurrency exchanges and their customers' private information and stole worth billions of won," South Korea's Parliamentary Intelligence Committee member Kim Byung-kee said.
Cryptocurrency Ads Disappear From Chinese Social Media
China's social media networks and search engines have stopped showing crypottocurrecies, the South China Morning Post reported. Searches for the Chinese terms for "bitcoin", "cryptocurrency" and "ICO" returned news articles and links, but no advertisements, the report added. China banned initial coin offerings last September. Microblogging website Weibo confirmed the report.
Acorn Unveils Blockchain-based Crowdfunding Platform
Acorn Collective Limited is building a new Ethereum blockchain based crowdfunding platform, which would be the first platform to be free and open to any legal project in any country, mainly for those living in developing countries. The company in its white paper said it will issue a new ERC-20 standard token called OAK on the Ethereum blockchain. OAKs will be distributed in return for ETH contributions. The pre-sale funding target is $5 million, and main initial coin offering or ICO target is $50 million with a stretch goal of $100 million. The minimum funding threshold for the Main ICO is $5 million.
Current Prices
As of 6.02 am ET, Bitcoin was down 12.89 percent at $7661.24 and Ethereum was lower by 13.68 percent at $771.93 on Coinbase.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.