UK Bank NatWest Bars Businesses That Accept Crypto
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UK Bank NatWest Bars Businesses That Accept Crypto
UK commercial and retail bank NatWest will not accept corporate customers who deal in cryptocurrencies, Decrypt reports.
“We have no appetite for dealing with customers, whether taking them on as new clients or having an ongoing relationship with people, whose main business is backed by an exchange for cryptocurrencies, or otherwise transacting in cryptocurrencies as their main activity,” said NatWest head of risk Morten Friis during a shareholder event.
Friis indicated that the NatWest board, of which he is a member, is taking its cues from the UK’s Financial Conduct Authority, which earlier this year issued a warning to crypto customers that Bitcoin and other digital assets are risky investments.
Read more: Decrypt
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