🙈 Not only China is perpetrating repression against cryptocurrencies, but the UK has decided to join in.
First, the United Kingdom banned the operation of one of the largest crypto exchanges, Binance, in the country. The second step was a warning from the British financial regulator of users about the dangers of investing in cryptocurrency.
👨🏻💼 On June 24, UK-based banking and insurance holding company Natwest Group temporarily limited the daily amount its customers can send to cryptocurrency exchanges.
They did this because of the “danger” of investment fraud. The restriction applies to several crypto exchanges, especially Binance.
“To protect our clients from criminals using these platforms, we are temporarily reducing the maximum daily amount a client can send to cryptocurrency exchanges, as well as blocking payments to a small number of cryptocurrency asset firms, where we are seeing particularly significant levels of damage to our clients associated with fraud “- commented the representative of NatWest.
🧑🏻💼 In April, the bank refused to serve its business clients who accept payments in cryptocurrencies. For example, Bitcoin, as it is considered by lenders to be “high risk”.
The financial institution TSB Banking Group also joined the #crypto bans and decided to prohibit its customers from buying crypto assets.