The British bank Santander will block transactions to Bitcoin exchanges in 2023 to protect customers from fraud, Reuters reports.<\/p>\n
Representatives of the financial institution did not specify when the measure would come into force.<\/p>\n
From 15 November, the bank will impose limits<\/a> on such transfers using mobile and online banking up to \u00a31000 (~$1456) per transaction and up to \u00a33000 (~$4368) in total within a month.<\/p>\n The restrictions will not apply to withdrawals from crypto exchanges.<\/p>\n \u201cIn recent months we have seen a significant rise in cryptocurrency fraud victims among customers. [\u2026] Limiting payments [\u2026] is the best way to ensure that funds remain safe,\u201d<\/em> the notice to customers says.<\/p>\n<\/blockquote>\n Santander maintains the transfers ban introduced in July 2021 to Binance. The decision was taken after a warning FCA<\/span><\/a> regarding the exchange’s activities in the country.<\/p>\n According to Finder<\/a>, a similar approach to crypto platforms is followed by 47% of the largest British banks, including Lloyds, Nationwide and HSBC.<\/p>\n Earlier in August, the FCA approved<\/a> stricter rules to curb misleading advertising related to high-risk investment products. They do not mention cryptocurrencies.<\/p>\n Earlier the regulator warned<\/a> investors away from dealing with FTX.<\/p>\n\n