HSBC and Nationwide Building Society have become the latest UK lenders to impose restrictions on customers buying cryptocurrency, citing regulator concerns about the practice.
In a message to customers, Nationwide says it will not allow payments to crypto exchanges using its credit cards and will set a £5000 daily limit on debit card spending.
Explaining the move, it says: "There are certain risks with purchasing cryptocurrency, as highlighted by the Financial Conduct Authority."
Payments to one exchange, Binance, are banned completely.
Meanwhile, HSBC has put a block on crypto purchases using its credit cards, citing FCA concerns about the high-risk nature of the assets.
In November, Santander put in place a £3000 monthly limit on payments to cryptocurrency exchanges. NatWest has made similar moves.
By on Fri, 03 Mar 2023 13:59:00 GMT
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