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UK's Starling Bank Temporarily Blocks User Payments to Crypto Exchanges: Report
Customers of Barclays and Monzo have also been complaining of difficulty making deposits on exchanges, according to The Telegraph.
Updated May 9, 2023, 3:20 a.m. Published May 31, 2021, 1:21 p.m.
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U.K. challenger bank Starling has stopped its customers from sending deposits to cryptocurrency exchanges.
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- According to a report from The Telegraph on Saturday, Starling confirmed that it has taken the temporary measure over concerns about "high levels of suspected financial crime with such payment."
- A spokesperson told the newspaper the block would be reversed once additional checks had been put in place.
- The Telegraph writes that users are also complaining on social media about similar blocks by high-street bank Barclays and online bank Monzo.
- When contacted, Barclays denied that it had put any restrictions on payments to crypto exchanges, while Monzo declined to comment, the report said.
Read more: Biden’s 2022 Budget Includes New Crypto Reporting Proposals
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Tether invests in LayerZero Labs as it doubles down on cross-chain tech, agentic finance
LayerZero’s Omnichain infrastructure (OFT) enables liquid stablecoin use across networks and “agentic finance” use cases.
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- Tether Investments backed LayerZero Labs to support LayerZero’s cross-chain protocol powering USDt0.
- LayerZero’s Omnichain infrastructure (OFT) enables liquid stablecoin use across networks and “agentic finance” use cases.
- Financial terms weren’t disclosed. LayerZero’s ZRO briefly rose while the broader crypto market stalled, but has since entered a downtrend as a selloff reignited.
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