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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.
Oleh Daniel Palmer
U.K. challenger bank Starling has stopped its customers from sending deposits to cryptocurrency exchanges.
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- 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
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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