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UK's Starling Bank Temporarily Blocks User Payments to Crypto Exchanges: Report
Customers of Barclays and Monzo have also been complaining of difficulty making deposits on exchanges, according to The Telegraph.
U.K. challenger bank Starling has stopped its customers from sending deposits to cryptocurrency exchanges.
STORY CONTINUES BELOW
- According to a report from The Telegraph on Saturday, Starling confirmed that it has taken the temporary measure over concerns about "high levels of suspected financial crime with such payment."
- A spokesperson told the newspaper the block would be reversed once additional checks had been put in place.
- The Telegraph writes that users are also complaining on social media about similar blocks by high-street bank Barclays and online bank Monzo.
- When contacted, Barclays denied that it had put any restrictions on payments to crypto exchanges, while Monzo declined to comment, the report said.
Read more: Biden’s 2022 Budget Includes New Crypto Reporting Proposals
Daniel Palmer
Previously one of CoinDesk's longest-tenured contributors, and now one of our news editors, Daniel has authored over 750 stories for the site. When not writing or editing, he likes to make ceramics.
Daniel holds small amounts of BTC and ETH (See: Editorial Policy).
