The British bank Santander UK imposed a limit on cryptocurrency exchanges using the firm’s mobile and online banking services.
Santander UK Limits Cryptocurrency Exchange Transactions, Bank Says Investing in Crypto 'Can Be High Risk'
On Nov. 3, Santander UK, the subsidiary of the Spanish financial giant Banco Santander, S.A., published a notice that says “investing in cryptocurrency assets can be high risk.” Furthermore, the British bank also imposed a limit on cryptocurrency exchanges using the firm’s mobile and online banking services.new update
concerning cryptocurrencies and it warns that investing in such financial vehicles can be “high risk.” The bank notes that the U.K.’s Financial Conduct Authority has warned the public about such risks and the financial institution wants to do everything it can to “protect” customers. “[Santander UK feels] that limiting payments to cryptocurrency exchanges is the best way to make sure your money stays safe,” the bank explains.
The financial institution has placed a £1,000 limit per transaction, and a total limit of £3,000 in “any rolling 30-day period.” Despite the bank’s warning, Santander-associated businesses are dedicating lots of effort toward
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