HSBC Holdings and Nationwide Building Society in the United Kingdom have followed the lead of other banks in the country by imposing stricter limitations on digital assets. According to a report by Bloomberg on March 2, retail customers will no longer be able to purchase cryptocurrencies using credit cards.
The decision was reportedly made in response to warnings from U.K regulators and scandals surrounding the cryptocurrency industry. They have set a nationwide daily limit of £5,000 ($5,965) for debit-card purchases of crypto assets.
“This is because of the possible risk to customers,” HSBC said in a statement.
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