Santander UK limits crypto transactions for its customers By Cointelegraph

Multinational banking group Santander (BME:) has placed a limit on all crypto transactions for its customers in the United Kingdom. The group cited cryptocurrency fraud warnings from regulators as the reason behind its decision.

According to an announcement on Nov. 3, the bank plans to protect its customers from the risks associated with investing in crypto assets, sharing that “money held in customers’ crypto wallets is unlikely to be protected by the Financial Ombudsman Service and Financial Services Compensation Scheme if something goes wrong.”