In an effort to lessen their vulnerability to cryptocurrency fraud, NatWest has set a daily and 30-day limit on payments from customer accounts to cryptocurrency exchanges.
Customers will not be able to move more than £1000 ($1213) each day or £5000 ($6066) in a month to exchangers, according to the UK lender.
Even trustworthy cryptocurrency exchanges, according to NatWest, are used as a launching pad for investments in virtual currency, some of which can result in the loss of “life-changing” sums.
The cost-of-living crisis may be a contributing factor to males over 35 making riskier investments read more UK Bank Limits Crypto Payments to Smother Fraud.
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