According to the Apple Card Customer agreement, users will not be permitted to buy cryptocurrencies using the company’s upcoming credit card service.
Goldman Sachs published the agreement on July 2, according to a report by Reuters on the same day. As per the report, American tech giant Apple is releasing the Apple Card in partnership with investment banking company Goldman Sachs as part of a broader business plan to bring in more revenue through service offerings.
According to the card’s customer agreement, cryptocurrency purchases fall under the heading of cash advances or cash-like transactions:
“‘Cash Advance and Cash Equivalents’ means any cash advance and other cash-like transaction, including purchases of cash equivalents such as travelers checks, foreign currency, or cryptocurrency; money orders; peer to peer transfers, wire transfers or similar cash-like transactions; lottery tickets, casino gaming chips (whether physical or digital), or race track wagers or similar betting transactions.” Read More at CoinTelegraph