Bitcoin Payments are Banned from Britain’s Second Largest Bank!

Steps are being taken in this direction in the UK, which has recently adopted a cautious approach towards cryptocurrencies.

Chase Bank, the UK’s second-largest bank, will ban cryptocurrency-related payments for its UK customers starting October 16, Coindesk reports.

Behind this ban are concerns that fraudsters are using cryptocurrencies more frequently to steal money.

The following statements were included in the e-mail sent to customers:

“We banned cryptocurrency payments because fraudsters are increasingly using crypto assets to steal large amounts of money from people.

In this context, if we consider that you have made a payment related to crypto assets, we will reject it.

You are free to use a different bank or provider to invest in crypto.”

Nationwide Building Society, one of the UK’s largest banks, also made a similar decision in recent months.

Nationwide Building Society said in the e-mail it sent to its customers that it restricted the buying and selling of cryptocurrencies and that the daily cryptocurrency purchase limit of customers was limited to 5,000 pounds, or $5,995.

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