{"id":45402,"date":"2021-07-02T13:14:49","date_gmt":"2021-07-02T10:14:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=45402"},"modified":"2025-09-01T10:56:55","modified_gmt":"2025-09-01T07:56:55","slug":"natwest-temporarily-restricts-transfers-to-crypto-exchanges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/natwest-temporarily-restricts-transfers-to-crypto-exchanges\/","title":{"rendered":"NatWest temporarily restricts transfers to crypto exchanges"},"content":{"rendered":"<p>Britain&#8217;s NatWest has temporarily restricted the amount of transfers to cryptocurrency exchanges amid concerns about investment fraud. <a href=\\\"https:\/\/www.reuters.com\/technology\/natwest-caps-transfers-crypto-exchanges-including-binance-over-fraud-concerns-2021-06-29\/\\\">Reuters<\/a> reports, citing a bank spokesperson.<\/p>\n<p>According to the publication, the new rules came into effect on June 24 and target a number of exchanges and digital asset-related companies. The maximum amount a bank customer can transfer to such a firm varies by platform and is usually limited to several thousand pounds.<\/p>\n<p>In May, NatWest <a href=\"https:\/\/u1f987.com\/en\/news\/british-neobank-starling-bank-temporarily-bans-deposits-to-bitcoin-exchanges\">warned its customers about cryptocurrency-related fraud<\/a>. The bank said that between January and March 2021 it received a record number of reports of crimes in the sector.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;To protect our customers from criminals using these [cryptocurrency] platforms, we have temporarily limited the maximum daily amount users can send to Bitcoin exchanges. We are also blocking payments to a small number of firms engaged in selling digital assets where the damage to our customers has been particularly significant,&#8221; the bank said.<\/p>\n<\/blockquote>\n<p>Earlier, the UK&#8217;s Financial Conduct Authority <a href=\"https:\/\/u1f987.com\/en\/news\/uk-regulator-bans-binance-from-operating-in-the-country\">prohibited Binance&#8217;s UK arm from conducting any regulated activity<\/a> without prior written approval from the regulator.<\/p>\n<p>In a discussion with <a href=\\\"https:\/\/www.coindesk.com\/uk-bank-natwest-limits-amount-users-can-transfer-to-crypto-exchanges\\\">CoinDesk<\/a>, a NatWest spokesperson noted that Binance is also among the firms subject to the restrictions.<\/p>\n<p>Earlier, another British bank \u2014 TSB \u2014 plans to <a href=\"https:\/\/u1f987.com\/en\/news\/uk-bank-to-bar-customers-from-buying-cryptocurrency-on-binance-and-kraken\">ban retail customers from purchasing digital assets<\/a> on the Binance and Kraken exchanges.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NatWest has temporarily restricted the amount of transfers to cryptocurrency exchanges amid concerns about investment fraud.<\/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-45402","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":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/45402","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=45402"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/45402\/revisions"}],"predecessor-version":[{"id":45403,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/45402\/revisions\/45403"}],"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=45402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=45402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=45402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}