Bank Starling Suspended Crypto Exchange Payments

Bank Starling has suspended crypto exchange payments. Financial crime concerns related to crypto were cited as the reason. UK-based bank Starling has announced that it is suspending all payments to cryptocurrency exchanges.

It Has Been Announced That The Measure Is Temporary

A spokesperson for the bank noted that the measure is temporary and aims to protect the customer. The spokesperson added, "This is an issue for all banks, not just Starling. We apologize for the inconvenience this has caused to some customers; we will reverse this measure as we introduce additional control steps for payments made specifically to crypto exchanges." Starling, which received £50 million ($69 million) in cash from Wall Street bank Goldman Sachs in April, is now awaiting an initial public offering.