More than five million British banking customers are to be barred from buying cryptocurrencies within days amid concerns that trading platforms are ri

TSB bans cryptocurrency amid fraud concerns with Binance and Kraken

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2021-07-07 14:00:05

More than five million British banking customers are to be barred from buying cryptocurrencies within days amid concerns that trading platforms are riddled with fraudsters.

The Times has learnt that TSB is preparing to block its customers from sending money to trading sites such as Binance and Kraken because it believes scammers are being allowed to set up e-wallets and steal people’s money because of weak security checks.

The bank is particularly concerned about Binance, one of the world’s biggest cryptocurrency exchanges, registered in the Cayman Islands.

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