{"id":43433,"date":"2021-05-31T10:17:17","date_gmt":"2021-05-31T07:17:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43433"},"modified":"2025-08-31T03:39:05","modified_gmt":"2025-08-31T00:39:05","slug":"british-neobank-starling-bank-temporarily-bans-deposits-to-bitcoin-exchanges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/british-neobank-starling-bank-temporarily-bans-deposits-to-bitcoin-exchanges\/","title":{"rendered":"British neobank Starling Bank temporarily bans deposits to Bitcoin exchanges"},"content":{"rendered":"<p>British neobank Starling Bank has temporarily barred customers from depositing funds to cryptocurrency exchanges amid concerns about criminal activity, according to <a href=\"https:\/\/decrypt.co\/72325\/uk-bank-bans-crypto-exchange-deposits-due-to-suspected-financial-crime\">Decrypt<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is a temporary measure taken to protect customers in light of the high level of alleged financial crime in payments to certain cryptocurrency exchanges. This is a problem for all banks,\u201d the company spokesperson told the publication.<\/p>\n<\/blockquote>\n<p>Starling Bank said the restrictions would be lifted once additional checks for such transactions are implemented. Customers will be able to withdraw funds from Bitcoin exchanges to bank accounts.<\/p>\n<p>Earlier, The Telegraph reported that banks in Britain, including Barclays and Monzo, were blocking payments to cryptocurrency trading platforms. In an interview with Decrypt, a Barclays spokesperson denied the report.<\/p>\n<p>Reddit users also complained about Starling Bank&#8217;s restrictions. Some noted similar problems at Lloyds Bank. However, Monzo and Revolut continue to send payments to exchanges, several users said.<\/p>\n<p>NatWest last week warned its customers about cryptocurrency scams, saying that from January to March 2021 it had received a record number of reports of crimes in the sector.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/41KJSioE-zktN0YMn1op6eq9GBbqW1MHleqE5CrSpKmWAjSGXYLCz-Zai785iQGz1-yZJs0FoI0HQ1gpIcFVyvImrmYcRxs3604hGLiFx-97OICKNzDdztDmIGYOgNHuadtq--iU\" alt=\"British neobank bans deposits to Bitcoin exchanges\"\/><figcaption>Data: <a href=\"https:\/\/www.bbc.com\/news\/technology-57267199\">BBC<\/a>.<\/figcaption><\/figure>\n<p>The regulator advised users to deal only with companies registered with the UK&#8217;s Financial Conduct Authority (FCA).<\/p>\n<p>Currently, five companies are listed on the regulator&#8217;s register, two of which are affiliated with the Gemini cryptocurrency exchange. Applications from more than 160 organisations are still under consideration.<\/p>\n<p>Earlier, the FCA <a href=\"https:\/\/u1f987.com\/en\/news\/uk-introduces-temporary-registration-regime-for-crypto-firms\">introduced a temporary registration regime<\/a> for cryptocurrency companies awaiting regulator approval. It will run until 9 July 2021.<\/p>\n<p>Earlier, the National Crime Agency described Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/british-criminologists-say-bitcoin-is-a-convenient-tool-for-criminals\">a convenient tool<\/a> for criminals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British neobank Starling Bank temporarily barred customers from depositing funds to cryptocurrency exchanges amid concerns about criminal activity.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1166,810],"class_list":["post-43433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-centralized-exchanges-cex","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=43433"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43433\/revisions"}],"predecessor-version":[{"id":43434,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43433\/revisions\/43434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}