HSBC Holdings and Nationwide Building Society in the United Kingdom have banned retail customers from purchasing cryptocurrency with credit cards. They are the latest in a growing line of banks in the UK to tighten restrictions on digital assets.

A recent Bloomberg report mentioned that the move has been made in response to warnings from UK regulators and scandals in the cryptocurrency industry.

Nationwide is reportedly imposing daily limits of 5,000 British pounds ($5,965) on debit-card purchases of cryptocurrency assets, while credit cards will no longer be accepted.

HSBC customers were barred from purchasing cryptocurrency with their credit cards last month. The bank cited the possibility of risks to customers as the reason for the step.

Both of these banks cited the warnings about crypto assets issued by the Financial Conduct Authority (FCA) in recent months as reasons for their actions.

(By Suzuki Shillsalot)

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