According to a report, crypto companies in UK are finding difficulties obtaining banking services in UK as many banks are limiting their interaction with the crypto sector, said by crypto advocates.
Crypto clients have had to look for new banking partners in US following the collapse of Silicone Valley, Silver Gate and Signature banks.
However, US is not the only place for crypto companies facing difficulties, UK is said to have created banking problems for crypto since from 2021.
Source: Coindesk
The Crypto Bridle?
Companies dealing in crypto are worried about the ban and restrictions on cryptocurrency by the banks.
People on Twitter have also been complaining about the ban on transfers from UK banks to crypto exchanges.
It is reported that UK banks have been pulling away from crypto in recent years.
Natwest in March began putting limit on customer payments to crypto exchanges to protect consumers from crypto criminals, according to an announcement by Natwest.
Many other banks as well have put a limit on crypto payments to exchanges in order to protect their consumers from risks.
Are these things going to limit crypto activities of the users in UK? Well, it does look that it may have an impact on the users but I don't think these things may stop people from crypto.
The crypto community around the globe have grown and its now a reality which cannot be ignored or swallowed that easy.