ChainCatcher reported that according to BusinessCloud, British digital bank Starling Bank announced a ban on cryptocurrency transactions. In a letter to customers, it believes that crypto activities are high-risk, so it decided to block all bank card payments to cryptocurrency merchants and impose further restrictions on deposit and withdrawal transfers.

A spokesperson for the bank said: “The innovative technology and ideas behind cryptocurrencies have huge potential benefits, however, currently, cryptocurrencies are highly risky and are being heavily used for criminal purposes, so Starling Bank no longer supports them.”

Earlier, ChainCatcher reported that on April 26, Starling Bank of the UK announced that it had completed a £130.5 million financing (approximately $165 million) at a valuation of £2.5 billion, with participation from Goldman Sachs and HaraldMcPike. (Source link)