Leading British banks with strong restrictions on crypto purchases (report)

Leading British banks with strong restrictions on crypto purchases (report)
HSBC, the Nationwide Building Society and other banking heavy weights in the United Kingdom report report a number of new restrictive rules that aim to buy cryptocurrency.
The step takes place in the middle of a chaotic year for the crypto industry, in which several industry giants failed.
same old song
According to the Bloomberg reporting, the largest banking institute in the United Kingdom-HSBC-Customer, citing "possible risks", has prohibited the purchase of cryptocurrencies on their credit cards.
Nationwide-another leading British bank-imposed the same restriction and set a daily limit of £ 5,000 (almost $ 6,000) for debit map purchases of digital assets.
Lloyds Banking Group PLC, Banco Santander SA and NATWEST Group PLC have already announced such rules. Santander customers, for example, a limit of £ 1,000 per transaction and a total limit of £ 3,000 ($ 3,600) in a sliding period of 30 days.
The stricter attitude towards digital assets is a reaction to the numerous collapse in 2022, which led to losses in billions. The crash of Terra/Luna The first big blow followed in May, which later followed the bankruptcies Preserver-Spaces = "True) Data-Preserver-Spaces = "True"> and Celsius network .
The decline of FTX (one of the leading cryptocurrency exchanges worth $ 32 billion in November undoubtedly one of the most tragic events for the industry. It washed the investments of over 1 million creditors as some well-known names that were connected to the platform contained spreserver spaces = "True"> Apple, Google, Netflix, American Airlines, Marriott International and many more.
also the governmental authorities of the United Arab Emirates (VAE), Japans, Australia, Hong Kongs and the Central Banks of Cyprus and the Bahamas were burned down.
In addition, the collapse of FTX triggered a massive domino effect, which had a negative impact on the business activities of many companies. genesis blockfi and midas-Investitations Applied for insolvency protection.
An attack on several fronts
The government of the United Kingdom announced Preserver-Spaces = "True"> Intended the local crypto industry and thus to prevent undesirable event.
The proposed rules will not stop the technological development and aim to ensure maximum security for investors.
"We remain steadfast in our commitment to growing the economy and enable technological change and innovation-and that also includes cryptoasset technology. But we also have to protect consumers who accept this new technology-and ensure robust, transparent and fair standards," said Andrew Griffith, Economics Minister Ministry of Finance.
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