{"id":44638,"date":"2021-06-20T12:11:58","date_gmt":"2021-06-20T09:11:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44638"},"modified":"2025-08-31T17:53:30","modified_gmt":"2025-08-31T14:53:30","slug":"uk-bank-to-bar-customers-from-buying-cryptocurrency-on-binance-and-kraken","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/uk-bank-to-bar-customers-from-buying-cryptocurrency-on-binance-and-kraken\/","title":{"rendered":"UK bank to bar customers from buying cryptocurrency on Binance and Kraken"},"content":{"rendered":"<p>In the coming days, more than five million retail customers of the UK bank TSB will lose the ability to buy cryptocurrency on Binance and Kraken, according to <a href=\"https:\/\/www.thetimes.co.uk\/article\/699bef70-d064-11eb-9bfa-a3bc386e6928?shareToken=56faee1dfc2ad7db031fc68eaf2fd716\" target=\"_blank\" rel=\"noreferrer noopener\">The Times<\/a>.<\/p>\n<p>The financial institution attributed the decision to concerns about rampant fraud on the named platforms and weak security measures. Binance is of particular concern for the bank.<\/p>\n<p>According to TSB, between 15 March and 15 April 2021, 849 customers reported losses on their Binance accounts due to fraud.<\/p>\n<p>The bank noted that scammers pose as online investment advisers and persuade victims to hand over their debit card details.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We are seeing a sharp rise in fraud as cryptocurrency exchanges are teeming with individuals who steal huge sums and profit from growing interest in this type of investment,&#8221; said a TSB spokesperson.<\/p>\n<\/blockquote>\n<p>Binance and Kraken rejected the accusations. A representative of the Cayman Islands-registered Asian platform said that &#8220;Binance takes its responsibility to protect users from fraud very seriously&#8221;.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;When we become aware of such claims, we act immediately and have excellent experience working with law enforcement authorities,&#8221; he added.<\/p>\n<\/blockquote>\n<p>Kraken&#8217;s Chief Compliance Officer Steven Christie noted that the exchange responded to more than 1,000 law enforcement requests in 2020 alone.<\/p>\n<p>In the UK, the Financial Conduct Authority <a href=\"https:\/\/u1f987.com\/en\/news\/british-regulator-counts-2-3-million-crypto-investors-in-the-country\">counted 2.3 million cryptocurrency investors<\/a> in cryptocurrencies, up from 1.9 million a year earlier.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the coming days, more than five million retail customers of the UK bank TSB will lose the ability to buy cryptocurrency on Binance and Kraken, according to The Times.<\/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":[1229,744,193,810],"class_list":["post-44638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-binance","tag-kraken","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44638","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=44638"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44638\/revisions"}],"predecessor-version":[{"id":44639,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44638\/revisions\/44639"}],"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=44638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}