Thursday, June 13, 2024
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The self-regulatory trade association CryptoUK has proposed providing a ‘white list’ of registered firms in the United Kingdom to address banks limiting or banning transactions to crypto companies.

In separate letters to U.K. Economic Secretary Andrew Griffith and members of the Financial Conduct Authority and Payment Systems Regulator dated March 21, CryptoUK said many banks had begun imposing blanket bans on dealing with crypto firms “instead of taking a risk-based and case-by-case approach.” The association proposed the creation of a ‘white list’ of registered crypto companies allowing them to conduct transactions with banks freely without limitations or the threat of bans.