“The innovative technology, and thinking, behind cryptocurrencies have great potential advantages, however, right now, they are high risk,” a spokesperson for Starling said.
Starling — a digital bank based in the United Kingdom — is the latest financial institution to ban crypto-related transfers and activities for its cardholders.
The online bank announced the news in a statement to customers as well as on Twitter, citing the perceived high risks of crypto trading. A spokesperson for Starling told Cointelegraph that the bank has had restrictions of “varying degrees” on transactions related to cryptocurrency for some time. “We recently tightened restrictions on inbound and outbound transactions by card and bank transfer,” the representative stated, adding:
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