BOV turns against cryptocurrencies

Bank of Valletta is no longer allowing its clients to buy cryptocurrencies such as bitcoin.  Clients making Sepa transfers to cryptocurrency exchanges or wallets are having transactions reversed, with the bank declining to explain the reasons why.  "A bank representative I spoke to was very friendly but unable to give me any more information," one disgruntled BOV customer told the Times of Malta. "They just said they were informed that the bank's policy had changed." 'Risk appetite' A BOV spokesperson was equally guarded, saying the bank's position on cryptocurrency transfers was governed by "its own risk appetite, regulatory directions and the exigencies of its correspondent banking network".  They said the bank would be following developments in the sector and would keep its policy "under review".  They did not say whether both incoming and outgoing cryptocurrency transfers were now forbidden.  When the Times of Malta contacted the bank's customer service centre, a representative said that while "there is a chance that incoming transfers will be blocked", the policy change was explicitly concerned with outgoing transfers.  What about other local banks? BOV is not the only...