The UK-based financial organization will prohibit its 5.4 million customers from buying digital coins. It decided to ban crypto due to rising concerns over security and customizing wallets.
According to British news publication The Times, TSB is especially concerned about trading platforms such as Binance and Kraken.
Its team believes that these websites have problems with security systems. So, these issues enable fraudsters to set up or customize online wallets successfully.
The company also mentioned an “excessively high” rate of fraudulent activities accessible within cryptocurrency platforms. So, the organization decided to block its users and prevent them from sending money to trading websites.