Santander Joins Bank Blockade Against Coinbase in the UK: Report
Marie Huillet's original article for cointelegraph.com reduced by 71%
Major Spanish bank Santander is reportedly ceasing to enable United Kingdom customers to deposit their fiat funds to major cryptocurrency exchange Coinbase. The source alleges that having been informed over the phone, they put in a complaint with the bank's complaints unit, which then reportedly confirmed that the client should move to an alternative bank if I wish to make the payment. The post has sparked over 100 comments to press time, with at least three fellow Redditors noting they have not experienced restrictions using Santander with their Coinbase accounts.
A further commentator noted that Santander has allegedly blocked withdrawals from BitStamp in Portugal and Spain. In a follow-up comment, the original poster noted that the measures could be temporary until Coinbase improves their fraud prevention, noting that Santander had indicated that "This was isolated to Coinbase and not cryptocurrency in general." The apparent actions of Santander in the U.K. follow fresh reports that British banking giant Barclays has cut its own ties with Coinbase; the bank had notably been providing Coinbase users with access to the U.K.'s Faster Payments Scheme and smooth GBP exchange as of March of last year.
News of the severed ties remains officially unconfirmed, as does the claim that Coinbase will continue its access to U.K. banking through Clearbank, a younger and less established institution.
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CN [too long; didn’t read]
Summarised crypto news.