UK Bank Bans Binance and Kraken Crypto Exchanges By CoinQuora

UK Bank Bans Binance and Kraken Crypto Exchanges

  • UK financial institution TSB is banning its clients from shopping for crypto from Binance and Kraken.
  • The financial institution claims the exchanges have low-security requirements which allow scammers.
  • Also, TSB claims it unsuccessfully tried to contact each exchanges to resolve the problem.

UK-based TSB Bank is taking measures to guard its clients from ‘excessively excessive’ threat related to crypto buying and selling. Specifically, the financial institution is proscribing its clients from shopping for crypto utilizing funds the financial institution manages.

The Sunday Times reported that TSB is within the strategy of banning its clients from shopping for crypto through Binance and Kraken crypto exchanges. Notably, TSB is a retail and industrial financial institution and a subsidiary of Sabadell Group. Also, the financial institution has a 5 million sturdy consumer base. As such, if the ban goes via this may be a major blow to the 2 exchanges.

However, the financial institution cited low-security requirements on each Bin…

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