Post
Topic
Board Economics
Re: Crypto Clients getting turned down by United Kingdom Banks | PM on other quest
by
South Park
on 04/04/2023, 19:27:04 UTC
Prime minister Sunak led the country to the UK, and his dream to make the UK a Crypto Hub is breaking apart considering the main system is ignoring the whole concept of what the PM stated in the first place.

With the recent news, UK banks are not accepting any Crypto-associated users and companies to open their bank accounts with them, banks are also freezing the accounts of current users/companies, and those who have accounts already approved, are asking for more and more documentation.

In short, they do not want anyone to operate crypto-related accounts.

On the other hand, Gordon Duff said that European Union is also trying to make efforts which are in turn making various banks "receptive" to the technology but the UK is doing exactly the opposite to that.
Let them, this market is based on ideals of freedom and if some banks despite the intent of the prime minister decided to go against there is nothing to do, it is their money and they decide how they want to do business, some other banks at a different country will instead see the opportunity and take it, and by the time those which rejected bitcoin change their tune they will be heavily disadvantage due to their initial resistance to change.