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> This crypto ban by Starling comes off the heels of Santander’s decision to limit customer deposits to crypto exchanges to £1,000 per transaction and a monthly limit of £3,000 This, ironically, validates the argument for crypto that banks cannot be trusted to let you do what you want with your own money.
How about letting people do what they want with their own money?
Those who don't want banks involved in their lives are free to adopt some other form of exchange. This may be considered irony.
I don't really understand this. I'm very, very bearish to all things crypto, but how is banks stopping their customers transferring money to crypto businesses meant to prevent risk to the banks itself?
I first learned about blockchain years ago talking to some middle eastern clients who had implemented something with it. After looking at the technology from a data & software engineering pov, I thought it was basically useless and incredibly niche. I said as much, but they didnt believe me; they also thought ML was where you "fed data to a machine and it did everything" because that's what some lecturer had told the…
crypto is cryptography for me, a serious and posh discipline of applied mathematics, linguistics, analytics and computer science.
> This crypto ban by Starling comes off the heels of Santander’s decision to limit customer deposits to crypto exchanges to £1,000 per transaction and a monthly limit of £3,000 This, ironically, validates the argument for crypto that banks cannot be trusted to let you do what you want with your own money.
>that banks cannot be trusted to let you do what you want with your own money. Well that's because we put them partially on the hook for when we, Joey Public, fall for scams, we expect and demand that the banks give us back the money we were scammed for. I mean, I personally haven't, but I've read multiple newspaper articles about it.
Earlier quoted context omitted.
Better than giving it to crypto scammers
Not a crypto fan but I think you should be allowed to give your money to any scammer of your choice.
How about letting people do what they want with their own money?
People can play Ponzi schemes as they like, banks probably should not be involved.
> 47% of UK banks don’t allow customers to interact with crypto exchanges And yet the state asks you to pay your taxes when you make added-value on crypto. There are literally people who have taxes on added-value made on crypto due but are unable to pay them because their banks are refusing their money. Take 10 K EUR out: easy. Take 1 million+ EUR out: it's extremely difficult. The hypocrisy here is phenomenal: "cryp…
How about letting people do what they want with their own money?
The beauty of the free market is that people are free to move their custom. And businesses are free to set the limitations necessary for profitable enterprise.
Some banks have decided that the risk to having to support customers who engage in risky behaviour is too high. There are literally dozens of free banks in the UK, and it is incredibly easy to switch provider.