The UK-based online bank Starling is preparing to resume payments to cryptocurrency exchanges after it suspended deposits on cryptocurrency exchanges last week.
A Starling spokesperson told Cointelegraph on Tuesday that after temporarily suspending the feature to protect its customers, the bank will resume payments to cryptocurrency exchanges on June 23.
Last week, Starling blocked payments to certain cryptocurrency exchanges on the grounds that “the number of suspicious financial crimes for payments to certain cryptocurrency exchanges is high.” The bank stated that it would adopt “specially for payments to Measures after “Extra Cheques Payments by Cryptocurrency Exchanges”.
The spokesperson emphasized that the move “is not a problem with Stalin, but a problem with all banks”, referring to the official comments made by Parliament on the legal status of the UK’s cryptocurrency exchanges. Salisbury Member of Parliament and Minister of Economy at the Ministry of Finance John Glen (John Glen) said on Friday, Only five companies authorized The Financial Conduct Authority (Financial Conduct Authority) operates cryptocurrency business in the country.
According to the FCA’s official website, these companies contain Gemini Europe’s two service companies, Gemini Europe Services and Gemini Europe, Diginex’s Digivault, cryptocurrency-friendly Ziglu Bank and Archax Exchange.
“So far, more than 90% of the companies evaluated have withdrawn their applications after FCA intervention. There are 167 crypto asset businesses with outstanding applications.” Glen said.
According to reports, some British banks, such as National Westminster Bank or NatWest, have issued the latest regulatory remarks after warning their customers about their crypto scams and fraud. Some users reported that NatWest sent a warning to customers last Thursday.
Encryption warning displayed in NatWest app pic.twitter.com/FZ235rYHN6
-Sam Shead (@Sam_L_Shead) May 27, 2021
According to a report in the Daily Telegraph on Saturday, other British banks such as Barclays Bank and Monzo Bank also Blocked Users transfer funds to certain cryptocurrency platforms. Barclays and Monzo did not respond to Cointelegraph’s request for comment.