UK bank Sterling blocks payments to crypto platforms and claims that the crypto industry is a high-risk one that is used for criminal purposes.

Starling Bank informs its customers that the bank will no longer support fund transfers on cryptocurrency platforms including Crypto Exchange ON and that cryptocurrency is a high risk and heavily used for criminal purposes which is why we do not support it. We do. It is worth noting that Star Link Bank has told its customers some things against crypto, in which it has been told about the risks and possibilities, where the crypto world has been criticized for being high risk and it has been described as a highly risky business. .
Apart from this recent statement by London headquartered Sterling Bank, other accused have also been proved along with stopping fund transfer on other platforms including crypto exchanges. While many people took to Twitter to seek a clear clarification from the bank, the bank responded by asking crypto merchants to stop all card payments and also on outgoing and incoming transfers as part of the decision. Banning is being done only because of the unpredictable and volatile nature of cryptos. Many people are very angry and unhappy with this decision of the bank, where many people have closed their accounts due to this change and decision, while one person tweeted to the bank that how can you give such a decision. Why are you doing it and why do you want to decide what a customer can and cannot do with their money.
A spokesperson for Starling Bank said that Starlink, like other banks, has had varying restrictions on crypto transactions for some time, recently tightening restrictions on transactions by card and bank transfer. While the motive and thinking behind it is to be of the greatest benefit where there is risky market and nature and market economy is in danger then we do not want to suffer such problem and we do not support it.
Sterling is one of the latest UK based banks to ban customer crypto activity. According to Finder.com, 47% of UK banking does not support crypto platform transfers. The story Lloyds, Barclays, RBSC among others bank credit card payments and then cricket score transactions have created a range of prohibitive industries as well.
Last week, Santander Bank began limiting customers’ transfers to crypto exchanges to 1,000 pounds ($1,209) per transaction and 3,000 pounds in any 30-day period for transfers via mobile and online banking. The bank will also block UK customers from sending real-time payments made via branch and telephone, online or mobile banking to crypto exchanges starting next year.
Overall Star Link has put a ban on crypto transactions and strict restrictions on cards and transfers have been put in place. The customer is upset and unable to transact. The bank is also suffering because customers are closing its accounts but the bank is only satisfying the customers by the high risk of crypto and its negative aspects and repeatedly stating the crypto industry as a negative energy source. trying to prove.