{"id":70625,"date":"2022-11-25T19:46:43","date_gmt":"2022-11-25T17:46:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70625"},"modified":"2025-09-08T03:23:14","modified_gmt":"2025-09-08T00:23:14","slug":"british-starling-bank-to-curb-customers-crypto-activity","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/british-starling-bank-to-curb-customers-crypto-activity\/","title":{"rendered":"British Starling Bank to curb customers&#8217; crypto activity"},"content":{"rendered":"<p>UK-based Starling Bank has banned purchases of cryptocurrencies via payment cards and imposed additional restrictions on transfers related to digital assets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Hi there \ud83d\udc4b We always review our position in relation to financial crime. We consider crypto activity to be high risk. We\u2019ve taken the decision to prevent all card payments to crypto merchants and to implement further restrictions on outgoing and incoming transfers.<\/p>\n<p>\u2014 Starling Bank (@StarlingBank) <a href=\"https:\/\/twitter.com\/StarlingBank\/status\/1595095825884930050?ref_src=twsrc%5Etfw\">November 22, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe innovative technology and the thinking behind cryptocurrencies have great potential. However, right now they pose a high risk and are widely used for criminal purposes. Therefore, we no longer support them\u00bb<em>,<\/em><strong> <\/strong>\u2014 said a <a href=\"https:\/\/cointelegraph.com\/news\/uk-bank-starling-bans-crypto-related-purchases-and-deposits-citing-high-risk\">Cointelegraph<\/a> representative.<\/p>\n<\/blockquote>\n<p>The bank&#8217;s decision drew criticism from the community. Many noted that some restrictions on crypto activity by banks seem reasonable, but not a complete ban.<\/p>\n<p>A user with the handle SovrynBTC asked why financial institutions do not care about many other kinds of high-risk transactions by their clients.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">4:<\/p>\n<p>Banks do not meddle in any other &#8220;high risk&#8221; activities \u2014 they&#8217;ll happily let you purchase tobacco, alcohol, or prescription drugs. Or let you trade stocks or gamble.<\/p>\n<p>Where\u2019s the logic?<\/p>\n<p>\u2014 Sovryn | DeFi for Bitcoin (@SovrynBTC) <a href=\"https:\/\/twitter.com\/SovrynBTC\/status\/1595722600176824322?ref_src=twsrc%5Etfw\">November 24, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abBanks \u2026 will happily allow you to purchase tobacco, alcohol or prescription drugs. Or \u2026 trade stocks, gamble. Where&#8217;s the logic?\u00bb \u2014 he wrote.<\/p>\n<\/blockquote>\n<p>As a reminder, in May 2021 Starling Bank <a href=\"https:\/\/forklog.com\/en\/news\/british-neobank-starling-bank-temporarily-bans-deposits-to-bitcoin-exchanges\">temporarily prohibited clients<\/a> from depositing to cryptocurrency exchanges. The restrictions <a href=\"https:\/\/forklog.com\/en\/news\/british-starling-bank-to-resume-transfers-to-bitcoin-exchanges\">were lifted<\/a> a month after testing the new anti-financial-crime system.<\/p>\n<p>In June 2022, Starling Bank chief Anne Boden<a href=\"https:\/\/forklog.com\/en\/news\/starling-bank-chief-warns-that-cryptocurrencies-threaten-payment-systems\">called<\/a> cryptocurrencies a threat to payment systems.<\/p>\n<p>Earlier<a href=\"https:\/\/forklog.com\/en\/news\/santander-uk-to-block-transfers-to-crypto-exchanges\"> the British arm of Santander<\/a> said it planned to block transfers to crypto exchanges in 2023. From November 15, limits were introduced on such operations.<\/p>\n<p>Prior to that, Lloyds and <a href=\"https:\/\/forklog.com\/en\/news\/natwest-temporarily-restricts-transfers-to-crypto-exchanges\">NatWest<\/a> imposed various restrictions.<\/p>\n<p>Read ForkLog Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK-based Starling Bank has banned cryptocurrency purchases via payment cards and imposed further restrictions on transfers related to digital assets.<\/p>\n","protected":false},"author":1,"featured_media":70626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1166,810],"class_list":["post-70625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-centralized-exchanges-cex","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=70625"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70625\/revisions"}],"predecessor-version":[{"id":70627,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70625\/revisions\/70627"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/70626"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}