Like their U.S. counterparts, banks in the U.K. are increasingly unwilling to provide services to crypto clients, in a trend stretching as far back as 2021. camomileshumba reports
Lisa Cameron, a member of Parliament and the chair of the Crypto and Digital Assets group, said in a statement to CoinDesk that crypto businesses have been unable to open bank accounts with Santander and NatWest Group, an issue sheA spokesperson for NatWest said the bank does not “currently offer banking facilities to businesses [that] buy or sell cryptocurrencies. This is a rapidly evolving space in the U.K. and we keep our stance under constant review.
“We make all decisions about onboarding new to bank businesses on a case-by-case basis based on the specific details of each business,” a spokesperson from Santander told CoinDesk in a statement.U.K. banks have been pulling away from crypto in recent years. Alison Rose, the chief executive officer of NatWest,that the bank had been “blocking retail and wealth customers from transferring into crypto assets because of the volatility and the stability of the platform.
In March NatWest began limiting customer payments to crypto exchanges to 1,000 British pounds per day and 5,000 British pounds over a 30-day period, to protect consumers from “crypto-criminals,” NatWestMany other banks have opted to limit crypto payments to exchanges in order to protect their consumers from risks.Spanish bank Santander, which has U.K.
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