UK banks block crypto trading amid financial crime concerns
Tradehay.com: 31/05/2021 - 05:41
According to the Telegraph, UK banks will suspend transactions related to the cryptocurrency sector due to concerns about the risks of financial crime. People in the UK have lost more than £60 million in 2020 to investment scams. Reports indicate that, almost half of it is crypto-related
In response to the above trend, customers of Barclays, Monzo and Starling have been unable to transfer funds to popular trading platforms such as Binance and SwissBorg: “Starling representatives have stated this measure is temporary, applied to protect their customers. The bank also said it will stop applying this measure when it conducts additional checks for remittances to crypto exchanges.
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