UK Calls for Equal Treatment of Crypto Firms by Banks to Boost Digital Assets

UK Government Pushes for Fair Treatment of Crypto Firms

UK officials have emphasized the need for banks to treat crypto companies that are authorized by the Financial Conduct Authority (FCA) fairly. This move is part of a broader strategy to establish the UK as a global leader in digital assets.

Regulatory Progress vs. Banking Restrictions

The UK Treasury pointed out that despite some crypto firms meeting FCA compliance standards, they still face account freezes and transaction blocks. These challenges contradict the government’s vision of a more crypto-friendly financial ecosystem.

Industry Feedback and Future Outlook

A report from the UK Cryptoasset Business Committee, alongside comments from Coinbase, highlights that banks are still reluctant to support many crypto services, even those that are fully licensed. While the new regulatory framework is expected to be fully in place by 2027, the sector urges banks to adapt sooner to foster innovation and fair access.

• UK aims to be a global digital asset hub
• Banks must treat FCA-authorized crypto firms equally
• Crypto industry calls for increased financial support and inclusion