HSBC, Nationwide to restrict crypto purchases with credit cards: Report
HSBC Holdings and Nationwide Building Society in the UK have banned retail customers from purchasing crypto with credit cards.
HSBC Holdings and Nationwide Building Society in the United Kingdom have banned retail customers from purchasing cryptocurrency with credit cards. They are the latest in a growing line of banks in the UK to tighten restrictions on digital assets.mentioned that the move has been made in response to warnings from UK regulators and scandals in the cryptocurrency industry.
HSBC customers were barred from purchasing cryptocurrency with their credit cards last month. The bank cited the possibility of risks to customers as the reason for the step. Santander, Natwest Group, and Lloyds Banking Group are the other banks in the UK that have placed restrictions on crypto services.Authorities in the United Kingdom are cracking down on cryptocurrency companies.
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