A U.K. bank will reportedly bar over 5 million clients from accessing digital currencies. TSB Bank is concerned about the increase in scammers allowed to set up their e-wallets on digital currency platforms. In particular, the bank called out Binance and Kraken, which it says have not done enough to protect users against being defrauded.
A report by The Times revealed that TSB is planning on implementing the digital currency ban in the near future. In its report, in which it cited sources with knowledge on the matter, the paper claimed that TSB has continued to receive complaints from its customers about fraud related to digital currency platforms.
With the decision, TSB Bank is set to bar over 5.4 million clients from sending their funds directly to digital currency trading platforms.
The bank singled out Binance as one of the platforms that it’s concerned with the most. According to TSB, the Changpeng Zhao-led exchange has…