Portuguese Santander bank branch blocks some bitcoin operations

Europe Portugal

Claiming that some cryptocurrency exchanges are transacting in non-regulated financial products, the Portuguese branch of Spanish bank Santander has started blocking their financial transaction.

Amongst those affected by the Banco Santander Totta policy are the clients of a popular, San-Francisco based exchange Coinbase. According to an employee of the bank, an internal directive has been issued to block transfers using Coinbase’s IBAN.

Another platform blocked by the bank is Bitstamp while the clients of other cryptocurrency exchanges such as Kraken could perform transfers without any obstacles.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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