Why did Monzo block cryptocurrency transfers to Binance?

Can you explain why Monzo, a popular digital banking app, decided to block cryptocurrency transfers to Binance, a major cryptocurrency exchange? This move has caused quite a stir in the crypto community, with many users wondering about the rationale behind the decision. Was it due to security concerns? Was there a compliance issue? Or is Monzo simply trying to distance itself from the volatile world of cryptocurrencies? It would be great to get some clarity on this matter.