UK Starling bank to resume crypto exchange deposits in late June

UK Starling bank to resume crypto exchange deposits in late June

Starling, a United Kingdom-based online bank, is preparing to resume payments to cryptocurrency exchanges after suspending crypto exchange deposits last week.

A spokesperson for Starling told Cointelegraph on Tuesday that the bank is set to restart payments to crypto exchanges on June 23 after temporarily suspending the feature as a measure to protect its customers.

Starling blocked payments to some cryptocurrency exchanges last week, citing “high levels of suspected financial crime with payments to some cryptocurrency exchanges.” The bank said that it will reverse the measure after adopting “additional checks specifically for payments to crypto exchanges.”

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The spokesperson stressed that the action was “not an issue for Starling, but for all banks,” referring to official Parliamentary comments regarding the legal status of crypto exchanges in the United Kingdom. John Glen, a member of the U.K. Parliament for Salisbury and the conomic secretary to the Treasury, said last Friday that only five companies were authorized by the Financial Conduct Authority to operate a

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