{"id":74982,"date":"2023-03-03T14:21:52","date_gmt":"2023-03-03T12:21:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74982"},"modified":"2025-09-10T02:50:13","modified_gmt":"2025-09-09T23:50:13","slug":"bloomberg-hsbc-and-nationwide-curb-customers-crypto-purchases","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bloomberg-hsbc-and-nationwide-curb-customers-crypto-purchases\/","title":{"rendered":"Bloomberg: HSBC and Nationwide curb customers\u2019 crypto purchases"},"content":{"rendered":"<p>The Nationwide Building Society holding company and the United Kingdom&#8217;s largest bank HSBC have imposed restrictions on purchasing cryptocurrencies via payment cards. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-02\/uk-banks-ramp-up-crypto-restrictions-with-new-retail-limits?leadSource=uverify%20wall\">Bloomberg<\/a> reports.<\/p>\n<p>Nationwide <a href=\"https:\/\/www.nationwide.co.uk\/help\/fraud-and-security\/cryptocurrency-payment-restrictions\/?et_cid=26323083&#038;et_rid=170684709\">increased<\/a> the limit to \u00a35,000 ($5,965) per day for debit cards, prohibiting such transactions for credit cards. HSBC fully restricted purchases of digital assets as recently as last month, according to users on Twitter. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">.<a href=\"https:\/\/twitter.com\/HSBC?ref_src=twsrc%5Etfw\">@HSBC<\/a>: Where money laundering is just another day at the office but don\u2019t you dare buy crypto!<\/p>\n<p>I\u2019m switching banks. <a href=\"https:\/\/t.co\/QCyKNgwM3n\">pic.twitter.com\/QCyKNgwM3n<\/a><\/p>\n<p>\u2014 Xanny.eth (0358.eth) (@LilNonfungible) <a href=\"https:\/\/twitter.com\/LilNonfungible\/status\/1630488851012546563?ref_src=twsrc%5Etfw\">February 28, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Both companies cited a warning from the United Kingdom&#8217;s Financial Conduct Authority (FCA) from 2021. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is due to potential risks for customers,\u201d Bloomberg quotes HSBC&#8217;s statement.<\/p>\n<\/blockquote>\n<p>In 2021 the FCA <a href=\"https:\/\/forklog.com\/en\/news\/uk-regulator-bans-binance-from-operating-in-the-country\">banned<\/a> Binance from engaging in any regulated activity without prior approval from the agency. Following this, banks <a href=\"https:\/\/forklog.com\/en\/news\/santander-blocks-payments-to-binance-for-uk-customers\">Santander<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/natwest-blocks-transfers-to-binance-amid-regulatory-uncertainty\">NatWest<\/a> blocked transfers to the Bitcoin exchange.<\/p>\n<p>Earlier the UK&#8217;s largest retail bank Lloyds Banking Group imposed a ban on purchasing cryptocurrencies with credit cards.<\/p>\n<p>In November 2022 Starling Bank <a href=\"https:\/\/forklog.com\/en\/news\/british-starling-bank-to-curb-customers-crypto-activity\">restricted<\/a> customers\u2019 operations related to digital assets.<\/p>\n<p>As noted, in 2023 many banks <a href=\"https:\/\/forklog.com\/en\/news\/regulatory-pressure-shifts-banks-stance-on-crypto-wsj-reports\">stopped partnering with crypto projects<\/a> due to regulator concerns. Regulators began voicing their concerns more actively after <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">the collapse of FTX<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nationwide Building Society holding company and the United Kingdom&#8217;s largest bank HSBC have imposed restrictions on purchasing cryptocurrency via payment cards. Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":74983,"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":[1229,1582,810],"class_list":["post-74982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-hsbc","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74982","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=74982"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74982\/revisions"}],"predecessor-version":[{"id":74984,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74982\/revisions\/74984"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74983"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}