Santander UK Blocks Crypto Exchange Deposits ‘Protect Customers’
Last month, crypto investors cheered the choice of a pro-cryptocurrency prime minister, but local banks continue to oppose the asset class. Santander is the most recent bank to crack down on crypto in the UK. It was claimed over the weekend that the retail bank intends to prevent real-time payments to cryptocurrency ex change s in 2023. The bank asserts that it protects consumers against fraud. The crypto embargo will affect Santander clients’ branch, mobile, and online banking. According to Reuters, bank customers would be allowed to receive cash from cryptocurrency ex change s, but not make deposits. Santander: Customers’ Safety According to a note on its website, Santander has “seen a rise in the number of UK clients who have fallen victim to cryptocurrency fraud” in recent months. According to a bank spokesperson, “keeping our customers safe from cryptocurrency scams is a top priority.” Also, it seems, is the ability to govern...