Big UK banks crack down on crypto investors

The CEO of deVere Group, an independent financial advisory, asset management and fintech organisation, is speaking out against big UK banks. Nigel Green criticizes them for suppressing customers who invest in crypto. Discover the measures deemed excessive that these banks take against their customers wishing to invest in crypto.

Big UK banks are stepping into high gear in their anti-crypto cabal!

In the UK, major banks are still reluctant to cryptos. Recent statements by the CEO of the deVere Group have confirmed this. Nigel Green said these banks are taking outrageous and outrageous action against clients investing in cryptos. He made his comment after reports emerged citing some of the country’s biggest banks, including HSBC and Nationwide. The documents indicate that these restricted their customers’ credit cards for buying cryptos. The banks would also have frozen customer accounts temporarily.

Upon hearing the news, Green argued that the UK banks involved are anti-crypto. “Why did they decide to “step up a gear” when it comes to cryptos, but not in other areas where their clients can decide whether or not to invest? It seems that some banks are using an outrageous and excessive diktat against account holders because they are anti-crypto, fearing that this technology poses a threat to the power and influence of traditional banks, presumably», has explained the CEO.

Green pointed out that banks don’t have to tell their customers what they can invest in. Also, they shouldn’t decide whether what clients plan to invest in is perfectly legal. Green added that cryptos are legal in the UK. He then stated:This kind of control over people’s private and personal financial decisions feels like something from the 1984 pages of Orwell and runs counter to the values ​​of Britain’s proud banking heritage.“.

The deVere Group CEO cited several reasons why investors are getting into the crypto sector. He spoke in particular about the diversification of portfolios and the potential for high returns. He also mentioned access to a new asset class. Investors are also looking to hedge against inflation. In this regard, several players believe that bitcoin (BTC) is the best protection against inflation.

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