The UK Treasury urges banks to stop restricting encrypted corporate account services

A spokesperson for the UK Treasury stated that the government is committed to building the UK into an international hub for digital assets and has submitted cryptocurrency regulatory legislation to Parliament. The final rules are expected to be confirmed this year, providing the certainty needed for cryptocurrency companies to invest and develop. The spokesperson emphasized that cryptocurrency companies authorized by the Financial Conduct Authority (FCA) in the UK should not be subject to bank discrimination or account restrictions based on their industry attributes. Previous industry reports have shown that some UK banks are still blocking customers from accessing legally registered encrypted services.