Bank bosses in the U.K. are blocking customers’ access to crypto assets over concerns of fraud and volatility. “We have taken a pretty hard line as a bank on crypto,” NatWest Group CEO Alison Rose told the House of Commons committee this week.
Bank bosses in the U.K. are blocking customers’ access to cryptoassets due to concerns over fraud and volatility, lawmakers were told today.
“We have taken a pretty hard line as a bank on crypto,” Alison Rose, chief executive officer of NatWest Group, told the House of Commons committee. “We're blocking retail and wealth customers from transferring into crypto assets because of the volatility and the stability of the platform.” “We do need to stop it at root cause,” Rose said, citing statistics showing that, for 60% of customers who were victims, the fraud originated on social media or technology platforms.
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