The UK’s third-largest bank, National Westminster Bank (NatWest), has imposed severe restrictions on Bitcoin (BTC) and cryptocurrency transaction limits, citing fraud risks.
NatWest, March 14 daily cryptocurrency transactions via an email dated 1,000 pounds ($1,215) declared that it would limit Stating that this step was taken to limit customers’ exposure to the variable asset class, the bank said, serious crimes in the crypto industry pointed.
The details of the e-mail sent to the customers by the bank included the following statements:
NatWest is increasing customer protection against crypto criminals after £329 million was lost by consumers last year. With the last restriction, the transfer limit our customers can make for cryptocurrencies has been changed to £1,000 ($1,218) per day and £5,000 ($6,090) over a 30-day period.
Cryptocurrency industry is still at an early stage and immature in security bank officials, stating that investors vulnerable stressed that he remained. In order not to experience losses that will change the lives of its customers. Arguing that this restriction is necessary, the bank warned with the following statements:
You should always be in control of your cryptocurrency wallet and no one else should have access. If you didn’t set up the wallet yourself or can’t access the money, it’s probably a scam.