Red alert in the UK: When the banking system tightens the flow of digital asset capital
A shocking report from the UK Crypto Asset Business Council has pointed out a concerning reality: 80% of customers are being blocked or restricted by banks from making transactions to certain major exchanges. This "debanking" situation is becoming worse than ever, with one exchange reporting nearly £1 billion being rejected in just one year. Lobbying organizations accuse banks of implementing restrictive measures aimed at stifling the development of this new technology sector.
The lack of clear regulatory guidance has created a hostile investment environment, where 70% of businesses feel they are being treated unfairly. Even when companies have registered with the Financial Conduct Authority (FCA), they still struggle to assist customers in executing currency transfer orders. The lack of consideration for the actual level of risk or specific fraud situations has led to 40% of transactions being delayed or completely blocked. To protect its position as a global financial center, the UK needs a prompt collaboration between lawmakers and banks to untie this knot, rather than pushing innovative businesses to countries with more open legal environments. $BTC
