UK Treasury urges banks to stop restricting account services for crypto businesses

A spokesperson for the UK Treasury stated that the government is committed to making the UK an international hub for digital assets and has submitted crypto asset regulatory legislation to Parliament. The final rules are expected to be confirmed this year, providing the certainty needed for crypto businesses to invest and grow. The spokesperson emphasized that crypto businesses authorized by the Financial Conduct Authority (FCA) should not be discriminated against or have their accounts restricted by banks due to the nature of the industry. Previous industry reports have shown that some UK banks still prevent customers from accessing legally registered crypto services.