UK bank NatWest is implementing restrictions on the amount that customers can transfer to cryptocurrency exchanges, further evidence of the cooling relationship between digital asset firms and financial institutions. NatWest is limiting users to payments of £1,000 per day and £5,000 over a 30-day period to cryptocurrency exchanges due to fraud and scam risks. Fraud and scam risks are the same reasons other major UK institutions, including Banco Santander SA, Lloyds Banking Group Plc and NatWest Group Plc have all placed restrictions on crypto-related businesses over the past few years. Paysafe, an online payments provider, also announced it would wind down services to UK customers of Binance, the world’s largest crypto-exchange due to the UK’s regulatory environment.
