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.
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Bruh, PM Sunak thought he could make the UK a crypto paradise, but the banks weren't having it. Them old-school financial institutions just can't keep up with disruptive tech, you feel me? The UK banks are way more closed-minded than the EU ones, who are actually trying to figure out how to deal with digital assets. Meanwhile, in the UK, VC investment in crypto companies is basically dead. So these crypto peeps are turning to payment service providers just to stay in business. But this can't go on forever, man. The government needs to step up and do something about these banks that are trying to limit or ban crypto transactions. Change is always hard, but it's gotta happen if we wanna move forward, ya dig?