I am genuinely infuriated by this.
How can the bank pull out such a restriction. The audacity is unfathomable. It is MY money, so I get to choose how, where and on what to spend it.
I appreciate my bank "looking out for my security" and I am confident they do this well. As an existing Santander customer for 30 years, with no intentions to leave them I am shook, likely will be withdrawing my financial collection from their care.
What I take from this is the clear confirmation that Crypto is the future. Banks know this, and they realise that they are the Blockbusters of the future. Therefore will try and put out the fire before it takes over. Unfortunately for the banking system that just isn't possible.
If I was to discuss this with the head in charge of this decision I would suggest closer review of transactions into crypto investments, maybe a knowledge test to make sure that fair understanding is achieved prior to investments taking place. But even then, they should not restrict their clients spending.