British financial institution bans Binance’s and CoinQuora’s Kraken crypto exchanges – Investing.com

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British bank bans Binance and Kraken crypto exchanges

  • British bank TSB bans its customers from buying crypto from Binance and Kraken.
  • The bank claims that the exchanges have low security standards that allow scammers.
  • In addition, TSB claims that it tried unsuccessfully to contact both exchanges to try to resolve the issue.

UK-based TSB Bank is taking steps to protect its customers from “excessively high” risks associated with crypto trading. In particular, the bank restricts its customers from buying crypto with funds managed by the bank.

The Sunday Times reported that TSB is banning its customers from buying crypto through the Binance and Kraken crypto exchanges. In particular, TSB is a private and commercial bank and a subsidiary of the Sabadell Group. The bank also has a 5 million strong customer base. If the ban goes through it would be a major blow to the two exchanges.

However, the bank cited low security standards for both bin …

This article was first published on coinquora.com

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