NatWest Introduces Transaction Limits To Protect Against Crypto-Criminals

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UK-based NatWest Bank announced new limits to transactions to crypto exchanges in an effort to protect its users from “crypto-criminals,” as Reuters reported.

The new rules will limit transactions to crypto exchanges to a maximum of £5,000 per 30 days — equating to a little over $6,000, according to Reuters. Users also won’t be able to transfer more than £1,000 (over $1,200) to crypto exchanges within one day.

NatWest’s Head of Fraud Protection, Stuart Skinner, said that users in the UK lost £239 million to crypto crime during 2022.

He added that the increased cost of living in the UK makes it easier for malicious actors to lure consumers who seek high returns.

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