Another UK bank limits crypto purchases

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Nationwide, which is a major construction company in the UK, said the new policy addressed regulatory concerns.

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Another UK bank has announced that it is placing limits on the amount of cryptocurrency its customers can buy.

Nationwide will now prohibit the purchase of digital assets using credit cards and in normal checking accounts, no more than $6,000 can be sent to exchanges per day.

While you could argue that limiting the use of credit cards to buy volatile cryptocurrencies is a good move, financial institutions have come under fire for restricting how consumers spend their money.

Nationwide, which is a major construction company in the UK, said the new policy addressed regulatory concerns.

Last November, Santander also announced that it would block consumers from sending real-time payments to crypto exchanges, a move designed to protect them from scams.

This came with a per-transaction limit of $1,200 and transfers to crypto exchanges are capped at $3,600 over a rolling 30-day period.

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