Nationwide is applying daily limits of £5,000 ($5,965) on debit-card purchases, while credit cards will no longer be available for crypto transactions.
United Kingdom babanks HSBC Holdings and Nationwide Building Society are banning cryptocurrency purchases via credit cards for retail customers. They join a growing list of banks in the country to tighten restrictions on digital assets.the step back is a response to warnings by UK regulators and scandals surrounding the crypto industry.
Customers of HSBC were barred from making crypto purchases with their credit cards last month. “This is because of the possible risk to customers,” HSBC wrote in an email seen by Bloomberg. In both cases, the banks pointed to warnings issued by the Financial Conduct Authority , about the risks related to crypto assets.
Other banks in the UK with restrictions on crypto services are Santander, Natwest Group, and Lloyds Banking Group. Most of the restrictions target the crypto exchange Binance. HSBC
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