Posted by William Charles on April 13, 2018
Recaps

Published on April 13th, 2018 | by William Charles

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Recap: RoomiPay Changes, JPMorgan Sued Over Cryptocurrency Charges & More

 



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SB
SB

crypto is not a cash-equivalent, it is a commodity! Just check with the IRS. There should not be cash-advance fees.

Bob Newbie
Bob Newbie

LOL, stop fooling yourself.

JoeHx

I think the biggest issue with Chase considering crypto purchases cash advances isn’t so much that they do in the first place, but rather that they switched from considering it a normal purchase to considering it a cash advance suddenly and without notifying cardholders.

I think they blamed Coinbase for changing merchant codes or something like that, though.

Ann
Ann

Be glad if you only got hit with cash advance fees, instead of dozens of duplicate transactions as there were massive amounts of complaints about around that same time earlier this year. Some people suddenly found their bank accounts overdrawn by tens of thousands of dollars, or their credit limits maxed out.

eric
eric

Bitcoin owners can convert coins into cash. Therefore it’s cash advance. Just like buying g/c with credit cards

Adam D
Adam D

its not the same as buying a gift card. for tax purposes its a axable event buying/selling/using it to buy other goods, JPM just wants to shut down the competition so they can control it and get their own hands on it.

Frank
Frank

Lmao that’s like saying since I can sell my couch it’s basically cash….except the value of bitcoin varies far more than my couch…

NinjaX
NinjaX

dammit dude. this is just ignorance on both sides. this is why we cant have nice things. i understand the plaintiffs side, but EVERYBODY, even if u are not in this game, should know you dont fuck with Chase. JPM doesnt give a crap about this lawsuit. its just another day in the office like a CFPB. its small shit. however, the ramifications are huge. we are talking all eyes on BTC shit from all banks because of this. its been that way ever since BTC exploded, but even more now. guy shouldve known better than to join the FOMO and YOLO movement for BTC and use a shutdown heavy bank like chase. you think you can just walk in and start buying publicly viewed drug money with a bank? give me a damn break.

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