This is the correct answer. Most of these UK companies have no idea how much fraud they're exposed to till they start accepting GBP faster payments in return for BTC. Our contact at Luno referred to it as "friendly fraud" and said their compliance department was completely overwhelmed with fraudulent transfers as soon as they offered the service. They don't know how to mitigate that risk yet, sorry to say but it's a small % of fraudsters who ruin these services for us all.
We all know it's just the Queen pushing the price down to sweep up some sweet cheap crypto before the bullrun. Nice work by the way Lizzie, down $900 in the past 24 hours!
Basically it's the Queen of the Past messing with the Kings of the Future.
For anybody who doesn’t read the article, before the anti-Coinbase circlejerk starts, this says a lot more about Barclays than it does about Coinbase. This really just represents the continued apprehensiveness that major banks have about getting involved in crypto (or at least for providing banking services to companies in the space).
It's funny how we've come full circle. They did the same thing to an exchange I built back in 2013.
Oh well... centralized exchanges are going to be obsolete soon enough anyways.