NatWest Bank Will Not Accept Clients Who Transacts With Cryptocurrency

Another bank in the United Kingdom will not accept clients who “dabbled” in cryptocurrencies.

National Westminster Bank, commonly known as NatWest, a major retail and commercial bank in the United Kingdom will refuse to serve business customers who accepts cryptocurrencies.

“We have no appetite for dealing with customers, whether taking them on as new clients or having an ongoing relationship with people, whose main business is backed by an exchange for cryptocurrencies, or otherwise transacting in cryptocurrencies as their main activity,”according to Morten Friis, head of NatWest Risk Committee.

The UK bank has classified cryptocurrencies such as Bitcoin as “high risk” due to its volatility.

With the bank’s anti-crypto stance, it may lose big clients such as Tesla and WeWork.

#SmartCrypto