Starling Bank will resume transfers to bitcoin exchanges

by in Cryptocurrency News

Starling Bank

UK-based neobank Starling Bank will bring back its deposit feature to crypto exchanges according to the company representative.

The restrictions will be lifted on June 23 after testing a new financial crime blocking system, he says.

On May 31, Starling Bank suspended transfers due to concerns about illegal activity. Then the organization said that the problem is relevant for "all banks."

Trending: ECB President Concerned that Crypto Can Affect CBs Negatively

Some UK financial institutions have also prevented payments to crypto trading platforms.

Earlier, the UK Financial Conduct Authority (FCA) introduced a temporary listing regime for cryptocurrency organizations awaiting administrative approval. It will run until July 9, 2021.

At the moment, the FCA register includes five companies, two of which are associated with the Gemini crypto exchange. Applications from more than 160 organizations are still being considered.