BIS Debunks a Misperception about Adoption of Bitcoin and Behavior of Retail Investors

At the time of writing, Bitcoin’s (BTC) trading price is at $16,796 and for now, there is not much retail interest in the digital asset.

This raises a question as to why retail investors are not interested in Bitcoin given the current market situation. However, the recent study conducted by the BIS has provided clarity on the matter.

Report Posted by the BIS

The Bank for International Settlements (BIS) has recently shared learnings from a study that it carried out about the crypto market.

The report provides clarity about the perception that investors are moving to crypto because they want to move away from traditional banking.

The report also confirms the behavior of retail investors toward crypto investments. It reveals when exactly the retail investors want to get into cryptocurrencies.

Both explanations point towards a single goal that is achieved by the investors as they interact with cryptocurrency trades.

Investors are Interested in Rising Prices

The study shows that the reason why investors invest in cryptocurrencies is not that they dislike banks. The reason they invest in cryptocurrencies is that they are attracted by the rising prices.

For a long time, cryptocurrency firms have claimed that people dislike traditional banking systems. As the crypto sector offers privacy and freedom, people are moving to cryptocurrencies.

This is the explanation that crypto firms adopt when they refer to people investing money into crypto as a store of value.

However, the BIS study has now confirmed that it is the price of the cryptocurrencies that attract investors. It is a fact that the crypto industry is the most volatile trading sector.

Investing in cryptocurrencies can result in enormous gains for investors, making them millionaires in a matter of seconds. This is the reason why people and retail investors go for crypto.

BIS Working Papers

It was on November 14, when the BIS shared the working papers revealing the relation between retail adoption, crypto trading, and Bitcoin prices.

The study shows that in most cases when the price of BTC has risen, the number of downloads of crypto trading applications has risen tremendously.

These are the occurrences where the trading activities of digital assets have risen significantly, significantly pushing crypto prices higher.

The study shows that downloads for crypto trading applications peaked whenever BTC hit all-time highs. These occurrences were Bitcoin hitting $50k, $60k, and then $69k between July and November 2021.

This goes to confirm that it is not the investors despising traditional banks but being attracted by the high trading prices of BTC and altcoins.

In light of the recent findings, the report predicts that if the price of BTC rises over $25k, then a strong rally would be formed. This is when retail investors would enter the market and invest heavily.

The post BIS Debunks a Misperception about Adoption of Bitcoin and Behavior of Retail Investors appeared first on CryptocyNews.com.

from CryptocyNews.com https://www.cryptocynews.com/bis-debunks-misperception-adoption-bitcoin-behavior-retail-investors/
via Bitcoin News
via Bitcoin News Today

YellowStoneFX Review – A Trusted Platform For Crypto Trading

YellowStoneFX Review

As far as online trading goes, YellowStoneFX is one broker that you should quickly familiarize yourself with, and for a good reason. This broker has been known to provide its traders with a robust trading platform that offers great diversity in all the trading options available to the clients and makes the entire process of online trading more seamless and much smoother.

It is fully dedicated to bringing some of the most high-quality features and services to its clients, and traders from all over the world have been known to use YellowStoneFX for that exact reason and continue to do so even today. When you sign up with this broker, you will be given access to a wide variety of global leading financial markets, as well as huge earning potentials and flexible trading conditions.

Simply put, this broker will provide everything that you will need and more in order to succeed in this industry and make your trading career a prosperous and profitable one. Moreover, you will also be given a lot of trading tools, instruments, and resources to not only earn more money but also gain some relevant experience so that you can gradually become more of a seasoned veteran in the online trading sector. With that in mind, let us now look at everything that this broker provides in detail in our in-depth YellowStoneFX review.

Trading platform

Firstly, we must talk about the broker’s trading platform. It goes without saying that in order to have a profitable and seamless trading experience, you need to have a trading platform that is easy to use and offers exactly what you would need. The trading platform may thus be understood as the interface through which traders can carry out their respective online trading activities, and so having an interface that can be understood with relative ease is undoubtedly going to be of great benefit to you.

Simply put, the trading platform acts as a kind of bridge between the financial markets and all of the different assets and trading instruments with which you would be interested through the existence of an innovative and intuitive trading platform. The idea of trading online and the execution of it is going to be much easier or much harder, depending on how viable and effective the trading platform is.

With that in mind, the trading platform provided by YellowStoneFX is one of the best that we have ever seen as it offers an abundance of useful trading instruments and tools that the broker’s clients would need in order to be successful.

This trading platform is exquisite because it also can be used quite easily by even the most inexperienced trader and also because it pays close attention to every single detail that would make such a platform an effective one. YellowStoneFX has truly gone above and beyond to make sure that its traders are provided with a platform that really offers a lot of diversity and understands the ins and outs of this industry.

It is highly advanced, and when you start exploring the platform, you will quickly see all of the different features, services, instruments, and tools that are offered. Furthermore, you will be given full customization options, along with a highly detailed dashboard that can make your online trading experience much more unique and individualistic.

Moreover, there are multiple tools that have been successfully integrated into the platform itself in order to further help you along with your trades. These tools may include advanced price charts, graphs, diagrams, and other useful instruments. Simply put, you will always be an informed trader when you use this trading platform.

Additionally, the platform is intuitive and simple to use, as aforementioned. In this day and age, a lot of online brokerages tend to neglect the trading platform factor in favor of focusing on the other aspects. While it is true that focusing on other factors such as the asset index and security measures are indeed important, investing in a viable and efficient trading platform is equally important, as, without it, traders will not be able to trade successfully. With this trading platform, you can learn everything that you need to know about it and what YellowStoneFX offers within just a few minutes.

What’s more is that you can also take your time in order to learn how everything works, which really should not take all that long, and the fact that this trading platform is fully compatible with all of your devices that possess a stable Internet connection. These may involve your smartphones, tablets, laptops, desktops, and anything else.

The platform also has full Android and iOS compatibility. When you use the trading platform, you will be given access to all of the important features and services in one convenient place through which you can trade with some of the top assets that exist within the leading financial markets across the globe. Finally, the act of executing trades has been simplified as you can do it with just a few clicks.

Account options

If we were to talk about the different account options that are provided by YellowStoneFX, then you will be happy to know that, unlike various other online brokerages, this broker has provided a whopping six fantastic account types that you can choose from. Each of these account options has been designed with the utmost care while paying special attention to the preferences and needs of the different traders as, after all, each trader is going to have a different set of preferences and needs.

So, whether you have been trading for a long time and are a seasoned veteran or someone who is brand new to the industry, there is bound to be an account option that is just right for you. The best part about these account options is also the fact that even if you start out with the most basic type, you can eventually move on to the more advanced account options later on as you progress throughout your online trading journey.

With that being said, let us now look into the different account types that are offered by this broker. To begin with, we have the ‘Standard’ option, which requires a minimum deposit of $10,000 to use.

This account type includes a 20% welcome bonus, access to educational resources, a weekly market review, and a weekly portfolio progress report. All of these are certainly incredibly useful tools to have, and this is the cheapest account option provided by YellowStoneFX and is also sometimes referred to as the basic account type. Next, we have the ‘Bronze’ account option.

This account type requires a minimum deposit of $25,000 to use and includes a 30% welcome bonus, access to educational resources, a weekly market review, your very own account manager, a portfolio progress report, and also trading alerts. The third account option is the ‘Silver’ account type, and it requires a minimum deposit of $50,000 to use.

This account option includes a 40% welcome bonus, a daily portfolio progress report, access to educational resources, a senior account manager, weekly live stream trading webinars, access to trading alerts, account monitoring via a top analyst group, and finally, an end of year summary with a certified and professional tax specialist.

Before we move on to the last three account options, it is worth noting that beyond this point, the account options are going to be more advanced and will cost a lot more money to use. It would therefore be a good idea to stop here if you are not an advanced trader and if you are not all that knowledgeable about online trading. However, if you are looking for more advanced features and services, then you can consider the next account options that we are now going to talk about.

Of course, always keep in mind what your budget and overall risk appetite are before you choose any of these account options. The next account option is thus the ‘Gold’ account type which requires a minimum deposit of $100,000 to use. This option includes a 50% welcome bonus, daily market reviews as well as trading signals, a personal portfolio manager, weekly live stream trading webinars, a fully customized education service, trade alerts, a fully managed portfolio, and no withdrawal fees.

The next account option, which is also the second most expensive choice, is the ‘Platinum’ account type.

This option requires a minimum deposit of $250,000 to use and offers a 60% welcome bonus, daily market reviews and access to trading signals, unlimited as well as fully unrestricted access to the broker’s features and services, your very own personal chief portfolio manager, a fully customized education service, access to VIP events, a fully managed portfolio, access to higher pay-outs and super-tight spreads, and finally no withdrawal fees.

The last account option which we are going to talk about is the ‘VIP’ account type, and this one requires a minimum deposit of a massive $1,000,000 to use.

Here, you will be given access to a 70% welcome bonus, daily market reviews, access to trading signals, unlimited access to the broker’s features and services, your very own personal chief portfolio manager, a fully customized education service, access to VIP events, a fully managed portfolio, higher pay-outs, super tight spreads, no withdrawal fees and lastly you will also be given access to a savings account. This is the most expensive option by far, but it also offers the most diverse range of services, tools, and features.

Lastly, YellowStoneFX has also offered an Islamic-friendly account option for those of the Islamic faith. Muslim traders can therefore enjoy all of the benefits of online trading via these account options without having to worry about things such as interest. This kind of diversity and accessibility is appreciated in this day and age when so many traders hail from different backgrounds, preferences, and beliefs, and it also shows that this broker cares about its traders regardless of personal backgrounds and preferences.

Asset index

Now, let’s talk about the asset index. Of course, the whole reason why you would want to sign up with any given online brokerage, to begin with, is presumably to trade with a specific type of asset or multiple assets. This makes sense as online trading has been booming in terms of popularity and usage for a long time, and as such, a great online brokerage will provide you with a wide variety of different tradable assets that you can work with.

With that being said, some of the top tradeable assets which are provided by this broker to its clients involve forex, indices, commodities, and CFDs. Moreover, you can even trade with various cryptocurrencies when you sign up with YellowStoneFX which is great because cryptocurrencies are perhaps one of if not the most popular digital assets these days. You can hence trade with various coins such as Ethereum (ETH) and Bitcoin (BTC).

Of course, always keep in mind that no matter what asset you may be trading with, there will always be some semblance of risk. So, make sure that you always do your own research before trading with anything, as well as check your budget and risk appetite prior to taking any kind of action. Also, make sure that the asset of your choice is listed beforehand, which will save you a lot of time, and you can do this by navigating to the broker’s official website and checking out the full list within each category for yourself.

Education

It could be argued that one of the most significant aspects yet often overlooked aspects regarding any given online brokerage is the education factor. You see, it will be very difficult to begin trading online until and unless you have a comprehensive understanding of everything within this industry, including its various topics, terminologies, concepts, and definitions.

Traders would ideally also need to have this kind of understanding in order to start earning substantial profits, as well as be aware of which factors may end up affecting the various global financial markets and what to do when this happens. In other words, there is rather a lot that needs to be thoroughly understood before you can even think about becoming an experienced trader in this industry, and this is where having some helpful educational resources will be of great assistance.

With that being said, when you sign up with this broker, you will be given access to some of the most advanced and professional training materials and resources which can be utilized on a regular basis to constantly better yourself and improve your understanding of this industry. You will hence be given access to advanced trading strategies, instructional videos, seminars, webinars, eBooks, and much more.

All of these resources can be accessed via the Education Centre provided by YellowStoneFX. Finally, in addition to also offering one on one training sessions, this broker has various promotions which can further incentivize you to take advantage of its educational resources. These include the referral of a friend, welcome bonuses, and loyalty programs which you should definitely check out by heading on over to the broker’s official website.

Registration

Finally, let’s talk about registration. Opening an account with YellowStoneFX could not be any easier as once again, all you would have to do is to navigate to the broker’s official website and fill out a form by clicking on the ‘Open Account’ button that can be found on the top right corner of your screen.

In the form, you’ll be asked to fill in certain details about yourself such as first and last name, a working email address and phone number, your country of residence, a password (which we would recommend that you take your time to carefully construct and note down somewhere safe as the last thing that you would want is to lose it), your time zone, a promo code if you have one, and finally, the currency with which you would like to open an account. Right now, YellowStoneFX only offers USD and EUR options, and you can only choose one of these two when signing up.

Furthermore, you should read through the terms and conditions outlined by the broker beforehand, as you will have to accept these prior to being allowed to register. You must also state that you are not a citizen of the United States and that you are over 18 years old.

Once you have done all this, you can click on the ‘Open Account’ button at the bottom of the form, at which point the broker will take its time to verify all the information, and it may ask you to submit some extra documentation if need be, although this would be on a case-by-case basis. Once that is all taken care of, you will have successfully opened an account with this broker and registered yourself.

Final verdict

In conclusion, YellowStoneFX can be considered to be a very safe, reliable, and trustworthy option and one that can be of great assistance to you as you embark on your online trading journey. All of the features and services are great, and so there is really no reason as to why you should not check this broker out.

The post YellowStoneFX Review – A Trusted Platform For Crypto Trading appeared first on CryptocyNews.com.

from CryptocyNews.com https://www.cryptocynews.com/yellowstonefx/
via Bitcoin News
via Bitcoin News Today

US Senator States Crypto Requires ‘More Aggressive Enforcement’

Elizabeth Warren, the US Senator, said that the collapse of the FTX crypto exchange shows that ‘more aggressive enforcement’ is needed for the crypto industry.

She added that she would continue pushing the Securities and Exchange Commission (SEC) to implement the law for ensuring financial stability and for protecting consumers.

However, a lot of people pointed out that no clear crypto regulation has been outlined by the SEC, which has driven US investors to use offshore crypto exchanges, such as FTX.

Aggressive regulation

It was the implosion of FTX that drove the Democratic senator to talk about more aggressive regulation for the crypto industry.

She tweeted last Wednesday that the fact that one of the biggest crypto exchanges had collapsed showed that most of the industry was running on smoke and mirrors.

She said that more enforcement was needed for the crypto industry and the SEC needed to step up. A lot of people did not agree with the Massachusetts senator.

Coinbase speaks up

Brian Armstrong, the CEO of crypto exchange Coinbase listed on the Nasdaq, also responded to the senator.

He said that FTX was not under the regulation of the SEC and was an offshore firm. But, he added that the SEC has not provided regulatory clarity in the US.

He went on to say that it was this lack of clarity that pushed many American investors offshore, claiming that 95% of the activity happened on these platforms. He said that American companies should not be punished for it.

A number of other executives at Coinbase also spoke up and were in agreement with the CEO.

Faryar Shirzad, the chief policy officer at Coinbase, said that it does not make sense to attack American companies due to the actions and failures of offshore ones.

The executive said that enforcement is essential, but it needs to begin with clear rules because those can help investors and the market.

The chief legal officer at Coinbase, Paul Grewal said that Americans had been exposed to offshore exchanges that had not been regulated and that should be the priority of the government.

More opinions

Peter Brandt, a veteran trader, also spoke up after Warren and said that it was the SEC that had failed the investors.

He said that US investors suffered because of the SEC and it was not because of regulatory clarity. He added that she was targeting the wrong entities with her bullets.

Jeremy Allaire, the chief executive of Circle, was also in agreement with the Coinbase CEO. He said that he agreed with Brian because the US crypto markets do not have a sound and clear regulatory framework.

Therefore, people had no other choice and this resulted in their exposure to the supervisory authorities in offshore zones like the Bahamas and many other places.

He requested Senator Warren to help in coming up with a good policy and not just use it as an excuse to carry out enforcement.

The post US Senator States Crypto Requires ‘More Aggressive Enforcement’ appeared first on CryptocyNews.com.

from CryptocyNews.com https://www.cryptocynews.com/us-senator-states-crypto-requires-aggressive-enforcement/
via Bitcoin News
via Bitcoin News Today

Crypto to Gain Prominence and Mass Adoption in Argentina Following Bitso’s Involvement

In recent years, the Latin America (LATAM) region has shown that it is very much into crypto-blockchain technology. It is because of this fondness, the crypto sector keeps growing in the region.

Over time, multiple crypto exchanges have launched their operations in a particular region. Bitso is among the crypto exchanges currently operating in the region and it wants to offer more to its users.

Bitso has Introduced QR Payments

Bitso is among the crypto entities in LATAM that are eager to bring more crypto exposure to the region. It wants to bring crypto to the region as a common asset so no one is hesitant in using that.

It also wants the international audience to know how adaptive the LATAM region is in terms of cryptocurrencies.

In its constant efforts to introduce more utilities for cryptocurrencies, Bitso has launched a new service. The Bitso officials have recently announced that they have finally launched a payments service.

The particular payment service would be based on QR codes, which could be scanned to make payments in cryptocurrencies.

Service is designed for Travelers

The announcement made by the Bitso officials confirms that the service would be available in Argentina. The service would be for travelers who come to visit Argentina and face currency-related issues.

Using the new service offered by Bitso, travelers in Argentina would be able to make purchases using cryptocurrencies.

As per the Bitso spokesperson, the new service has been designed keeping in mind the troubles that travelers have to face as they visit Argentina.

One of the biggest hassles for tourists is access to local currency. Therefore, this is their attempt to make the lives of travelers easier as they come to visit Argentina.

Using the new service, tourists would be able to purchase goods via cryptocurrencies at all merchants. All they would have to do is generate the QR code and scan it with the merchants.

Argentina is among the countries with over a dozen exchange rates for the dollar currency. Therefore, having a QR code to pay in crypto would save tourists from going through all the hassles.

Service Availability

In Argentina, payment technology has grown vast in recent years. Just like China, Argentina has grown used to digital payments involving QR codes.

Therefore, it was the right step taken by Bitso to promote its service, which would eventually promote the cryptocurrencies being used by tourists.

In the initial run, Bitso introduced Ether, Bitcoin, and most of the stablecoins. The exchange may expand its offering for cryptocurrencies, based on the market demand.

The post Crypto to Gain Prominence and Mass Adoption in Argentina Following Bitso’s Involvement appeared first on CryptocyNews.com.

from CryptocyNews.com https://www.cryptocynews.com/crypto-gain-prominence-mass-adoption-argentina-following-bitsos-involvement/
via Bitcoin News
via Bitcoin News Today

Terra Classic Experiences A 14% Surge, Efforts Of Binance Finally Pay Off

Terra Classic (LUNC) has turned out to be one of the top gainers in the Thursday trading sessions. The long-time troubled digital asset reportedly moved strongly among the top cryptocurrencies with a strong rally.

LUNC Surged 14%

It was a remarkable site for the entire cryptocurrency community to see the trading price of LUNC experience a strong rally.

The trading price of LUNC reportedly moved up by 14% on Thursday. This was a great rally that Terra Classic experienced and it badly needed it.

The situation has become quite interesting for LUNC and it seems to be gathering more support in its favor. This could help LUNC grow significantly in value, pushing its value to a higher level.

LUNC’s Price Action

On Wednesday, the price charts showed that the trading price of LUNC was at a low of $0.0001667. On Thursday, as LUNC approached midday trading, its value had risen to $0.0002144.

Prior to the rally, the LUNC price was moving downstream. The LUNC supporters had witnessed a four-day streak of declines and the digital asset could have continued moving lower.

The bulls then jumped in and were able to rebound the trading price of LUNC. The price of LUNC saw a rebound just as it came close to a strong support level.

The bulls did not let the sellers take much control as they came close to the key support point. From here, the bulls took control of their hands and formed a strong rally.

According to the technical analysis, the key support level is $0.0001610 and it has a history of forming strong rallies. The same level achieved a strong rally on September 1, pushing LUNC to $0.0002900.

LUNC’s RSI

The relative strength index (RSI) or LUNC is also showing progress. It has reportedly moved upward in light of the recent rally.

It is worth noting that prior to the rally, the LUNC RSI was moving downward. It had reached a lower level of 29.40 and was set to move even lower.

That is when the rally kicked in and helped push the RSI higher to support the rising trading price. The more RSI moves in the upward direction, the more confidence the investors gain to support LUNC’s rally.

At the time of writing, LUNA Classic’s RSI is at 37.70. If the rally continues, the RSI would continue with its climb.

The analysts expect to see the trading price of LUNC rise up to $0.0002150 if the bulls keep up the rally.

Binance is helping

A proposal was made to help boost the price of LUNC, which was to burn as many LUNC as possible. This would lower the supply, creating scarcity, which would lead to high demand.

Binance launched a program where every transaction fee for LUNC is dedicated to a particular fee. A portion of the fee is used to buy LUNC and then send them over to the LUNC burning address.

So far, millions of LUNC have been burnt by Binance in the process of boosting the trading price of LUNC.

The post Terra Classic Experiences A 14% Surge, Efforts Of Binance Finally Pay Off appeared first on CryptocyNews.com.

from CryptocyNews.com https://www.cryptocynews.com/terra-classic-experiences-14-surge-efforts-binance-finally-pay-off/
via Bitcoin News
via Bitcoin News Today

Prices Of Cryptocurrencies Show A Recovery As FTX Finds Rescuers For Platform

The trading prices of cryptocurrencies have started to show a recovery today. However, the cryptocurrency industry is eager to know exactly how long would the recovery last.

The main question of the day is whether the future of FTX is secure or whether it will end in the upcoming days.

FTX is not Giving Up

It seems that while the cryptocurrency industry and the FTX community are waiting for the worse, the FTX exchange has decided not to give up.

The exchange is reportedly in talks with a number of entities that it thinks would be able to help it get out of the troubling situation.

The recent events have indeed pushed the FTX exchanges closer to bankruptcy. However, the company is not ready to give up and it wants to come up with a solution so it does not end that way.

For now, the reports confirm that the FTX exchange officials are in talks with multiple potential investors. The main goal here is to find enough investments that may stop the FTX ship from sinking.

Fear Lingers of a Contagion

As the cryptocurrency industry has faced another drawback in the form of FTX, many fear that the matter would not end easily.

According to many market experts, there are high chances of the contagion spreading across the entire cryptocurrency industry like wildfire.

Slight Reprieve in Cryptocurrency Prices

The report shows that a slight reprieve could be witnessed in the trading prices of cryptocurrencies. They were able to gain momentum just as the consumer price index (CPI) was shared by the US Feds.

The inflation rates came out to be soft, which helped push the stock markets at a significant rate. According to the market data, the NASDAQ Composite experienced a 6% rise in the latest trading session.

As a result, the trading price of Bitcoin has also witnessed a recovery and it has surged by 1%. At the time of writing, the trading price of Bitcoin is worth $17,756.

US CPI Inflation

The recently shared data for the CPI shared by the US Feds looks very promising not just for the stock markets but for the cryptocurrency industry as well.

The inflation rates have started to decelerate in the US as they dropped from 8.2% in September to 7.7% in October.

This is a strong signal that with the inflation rates decelerating, investors would finally be able to invest more in cryptocurrencies.

This could eventually give cryptocurrencies the push they had been eager to see for a while. As more positive inflation rate keeps coming back, the situation of the crypto-verse would keep getting better.

The post Prices Of Cryptocurrencies Show A Recovery As FTX Finds Rescuers For Platform appeared first on CryptocyNews.com.

from CryptocyNews.com https://www.cryptocynews.com/prices-cryptocurrencies-show-recovery-ftx-finds-rescuers-platform/
via Bitcoin News
via Bitcoin News Today

A Major Banking Group Imposes A Limit On Its Customers For Cryptocurrency Transactions

Santander, a major multinational banking group has made a major announcement that involves the cryptocurrency community based in the United Kingdom.

Santander has announced that they have put a limit on the transactions that their customers process for cryptocurrencies. The limit has been imposed on customers who are based in the United Kingdom.

The firm has also confirmed that they are not aiming to target particular users or transactions. They have confirmed that the limit has been imposed on all the transactions any kind of users process for crypto.

Reason behind Limitations

The banking group has announced that it had to make the decision as the regulators have continued issuing fraud warnings involving cryptocurrencies.

It is a matter of great concern as the cryptocurrency industry is becoming a target among hackers and cybercriminals, as it is decentralized.

This particular feature makes the hackers untraceable, which goes in their favor and they can continue with their attacks without fearing any lawful actions.

Due to the constant rise in fraudulent activities involving cryptocurrencies, the regulators in the United Kingdom are worried about the well-being of their investors.

No Coverage for Crypto Holders

This is the reason why the regulators are issuing warnings to the cryptocurrency community. The regulator has made it clear that the funds that the investors have stored in the form of crypto are unprotected.

The regulatory authorities have communicated that the investors’ funds stored in the form of cryptocurrencies are not protected by any kind of compensation.

As per the authorities, such users may have no coverage from the Financial Services Compensation Scheme and the Financial Ombudsman Service.

If anything goes wrong with such holdings and the investors end up losing them, there would be no coverage for them.

Santander wants to do the same

As communicated by Santander UK, they want to ensure that they are able to protect the interests and holdings of their customers.

They want to ensure that their customers are protected from any kinds of risks related to cryptocurrencies. Therefore, it is very important that they take necessary measures to deal with the high risks.

This is the reason why they have proceeded with imposing limitations on the amount of money that the users can process in a particular period.

The limitations set by Santander UK are for the funds that the users can send over to the cryptocurrency exchanges.

Enforcement from November 11

The banking group has announced that the new limits would be enforced from November 15. Once implemented, the users will not be able to send over £1,000 to a crypto exchange in a single transaction.

Apart from the single transaction limit, the bank would also implement a £3,000 limit on a monthly basis.

The post A Major Banking Group Imposes A Limit On Its Customers For Cryptocurrency Transactions appeared first on CryptocyNews.com.

from CryptocyNews.com https://www.cryptocynews.com/a-major-banking-group-imposes-a-limit-on-its-customers-for-cryptocurrency-transactions/
via Bitcoin News
via Bitcoin News Today