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NatWest will refuse business customers who accept cryptocurrencies

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April 21, 2021 at 06:32PM

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Head of the lender’s risk committee categorised cryptocurrencies as ‘high risk’

NatWest will refuse to serve business customers who accept payment in cryptocurrencies such as bitcoin, which the UK lender has categorised as “high risk”.

Morten Friis, a NatWest board member and head of its risk committee, said the bank was taking a “cautious approach” to cryptocurrencies, and would closely monitor any change in tone from the UK regulator, which has warned that consumers stand to lose all their cash by investing in crypto assets.

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