UK-based bank Starling has stopped its customers from trading crypto with their cards.
Starling has restricted card crypto transactions after FTX was plunged into bankruptcy by a liquidity crisis. The recent restrictions aren’t the first time Starling has blocked crypto-related activities. The bank temporarily suspended payments to crypto exchanges in May 2021 due to similar concerns. Starling then resumed crypto exchange trading after about a month.
British Bank Stops Crypto Transactions
Starlinghas suspended card purchases of other cryptocurrencies, primarily Bitcoin (BTC).
The online bank said on Twitter that it is halting operations, citing the perceived high risks of crypto trading. The bank also described cryptocurrencies as “high risk and heavily used for criminal purposes.”
Here’s Starling’s statement on Twitter:
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.