A former customer of NatWest, a UK bank, claims that their account was closed due to their involvement in cryptocurrency trading. The customer had to resort to using a food bank over Christmas as they had no access to their funds. The bank had previously blocked the customer's account following a dispute related to a peer-to-peer crypto trade, but the Financial Ombudsman Service ruled in the customer's favour.
NatWest has stated that it may delay or refuse to act on a customer's instructions due to legal and regulatory requirements. Nigel Farage, the former leader of the UK Independence Party, has become a supporter of Bitcoin during the pandemic and sees it as a way to maintain personal sovereignty and make financial decisions without state control.
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