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HSBC and Nationwide Ramp Up Crypto Limits

  • HSBC, Nationwide limit crypto purchases with their cards
  • Firms cite regulators’ warnings about dangers to customers

Nationwide Building Society and HSBC Holdings Plc toughened limits on retail customers’ access to cryptoassets in the last week, becoming the latest UK banks to impose curbs after industry scandals and regulatory warnings.

Nationwide is applying daily limits of £5,000 ($5,965) on debit-card purchases of cryptoassets, the building society informed customers on Wednesday, while its credit cards can no longer be used to buy crypto. HSBC said it barred customers from making crypto purchases via its credit cards from last month.