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.
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U.K. challenger bank Starling has stopped its customers from sending deposits to cryptocurrency exchanges.
- 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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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
