- A UK parliamentary group is investigating banking restrictions faced by crypto firms, including account access and transaction limits.
- Crypto businesses report significant transaction rejections and a hostile banking environment, leading to concerns about investment and competition.
- The inquiry aims to assess the proportionality of these restrictions and their impact on the UK's ambition to be a crypto hub, especially as new licensing rules approach.
Topics: Jurisdictions, Legal regulatory, Banks bankingsystems, Established hubs, Licensing issuer obligations, Custody asset servicing
Tags: #ukinquiry #cryptofirms #bankingbarriers #accountaccess #transactionrestrictions #fca #moneylaundering #fraudrisk #regulatorystatus #allpartyparliamentarygroup
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