British Starling Bank has banned clients from transfers to crypto-exchanges

Britain's Starling Bank has temporarily banned customers from making deposits to cryptocurrency exchanges due to concerns aboutillegal activity, Decrypt reports.

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A neobank spokesman said:

“This is a temporary measure taken to protect users amid high levels of alleged financial crime when making payments to some cryptocurrency exchanges. This is a problem for all banks. "

Starling Bank clarified that the restrictions will be lifted when additional checks for such transactions are introduced. Clients can withdraw funds from crypto exchanges to bank accounts.

Earlier it was reported that British banks such as Barclays and Monzo are blocking payments to cryptocurrency exchanges. A Barclays spokesman denied this information.

Earlier, the UK Financial Conduct Authority (FCA) introduced a temporary registration regime for crypto companies that are awaiting regulatory approval. It will run until July 9th.

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