UK financial institution Nationwide Building Society is re-evaluating its cryptocurrency transactions policy following other banks in the country.
Nationwide said it is monitoring cryptocurrency activity and is putting in place additional security measures for actions that could make the organization’s customers more vulnerable to fraud. These actions include blocking suspicious payments and “customized fraud alerts”.
“Our policy [в отношении криптовалют] is currently being revised, ”the bank’s press service said.
Earlier this week, it became known that clients of the large British bank Barclays can no longer make deposits on the Binance cryptocurrency exchange – the bank has banned transfers to this site from both credit and debit cards. Late last month, another UK bank, Natwest, set a daily limit of GBP 1,000 for remittances to cryptocurrency exchanges due to an increase in fraud in the industry.
The banks’ actions were preceded by a statement from the UK Financial Conduct Authority (FCA), which warned the management of the Binance cryptocurrency exchange that the site could not carry out regulated activities in the country. Last week, the Thai Securities Commission (SEC) announced that it has opened a criminal case against Binance on charges of illegal financial transactions.
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