BNP Paribas bank blocks transfers to Coinbase exchange

   French financial conglomerate BNP Paribas blocks client transactions on the Coinbase crypt exchange. This was reported by the bank's client.

Apparently, the blocking of transfers to the exchange began this week. According to an anonymous source, a client of BNP Paribas, last week transactions on the Coinbase exchange were supported by a financial institution. According to the anonymous client, the information about the blocking was confirmed by the customer service department of BNP Paribas.

At the same time, transactions on other exchanges are still available, for example, in the European branch of Binance and Binance Jersey. The source Cointelegraph shared records confirming that the banking giant is blocking transactions on Coinbase cryptographic platform.

"This is considered an illegal transaction", — a BNP Paribas spokesman said during a telephone conversation with a client.

The client has not received a warning about the bank's decision to suspend transfers to Coinbase. Bank employees cite the possibility of fraud and support of confidential Monero cryptographic currency as the reason for blocking transactions at Coinbase.

Previously, other banks have already made attempts to limit transactions on the cryptocurrency exchanges. Two years ago, the Bank of Montreal, one of Canada's largest banks, began blocking the cryptographic transactions of its customers on debit and credit cards, as well as those made through online banking.

In addition, last summer Reddit reported that transfers from Santander accounts did not go to the Coinbase crypt exchange. It turned out that the bank had not blocked the site, but was checking payments.