Nationwide, which is a major building society in the U.K., said the new policy was in response to regulatory concerns.
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Yet another British bank has announced that it's imposing limits on the amount of cryptocurrency that their customers can buy.
Nationwide will now forbid the purchase of digital assets using credit cards — and in normal checking accounts, no more than $6,000 can be sent to exchanges per day.
While you could argue limiting the use of credit cards to buy volatile cryptocurrencies is a good move, financial institutions have faced criticism for restricting how consumers spend their money.
Nationwide, which is a major building society in the U.K., said the new policy was in response to regulatory concerns.
Last November, Santander also announced that it would stop consumers from sending real-time payments to crypto exchanges — a move that was designed to protect them against scams.
This was accompanied by a per-transaction limit of $1,200 — and transfers to crypto exchanges are capped at $3,600 over a rolling 30-day period.
