British banks refuse to work with crypto companies: report

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Kryptofirmen im Vereinigten Königreich kämpfen darum, Bankdienstleistungen zu erhalten, Bloomberg gemeldet Sonntag unter Berufung auf mehrere Quellen. Lokale Krypto-Führungskräfte äußerten sich frustriert über abgelehnte Anträge, eingefrorene Bankkonten und überwältigenden Papierkram. Die Situation wurde durch den Weggang der in den USA ansässigen Kreditgeber Silvergate Capital, Signature Bank und Silicon Valley Banks verschärft. Bankbeschränkungen behindern Kryptofirmen in Großbritannien Dem Bericht zufolge ist das Bankenproblem im Vereinigten Königreich so schlimm geworden, dass einige Unternehmen Beschwerden bei der Regierung eingereicht haben. Trotz der Bemühungen von Premierminister Rishi Sunak, Großbritannien als Drehscheibe für digitale Assets zu etablieren, arbeiten lokale Banken diesem Ziel entgegen. Edouard Daunizeau, …
Crypto companies in the United Kingdom are struggling to maintain banking services, Bloomberg reported Sunday, citing several sources. Local crypto managers were frustrated about rejected applications, frozen bank accounts and overwhelming paperwork. The situation was tightened by the departure of the lender Silvergate Capital, Signature Bank and Silicon Valley Banks based in the USA. According to the report, bank restrictions hinder crypto companies in Great Britain, the banking problem in the United Kingdom has become so bad that some companies have submitted complaints to the government. Despite the efforts of Prime Minister Rishi Sunak to establish Great Britain as a hub for digital assets, local banks are working towards this goal. Edouard Daunizeau, ... (Symbolbild/KNAT)

crypto companies in the United Kingdom fight to maintain banking services, Bloomberg reported Sunday, citing several sources. Local crypto executives were frustrated about rejected applications, frozen bank accounts and overwhelming paperwork.

The Situation was tightened by the departure of the lender Silvergate Capital, Signature Bank and Silicon Valley Banks based in the USA.

Bank restrictions hinder crypto companies in Great Britain

According to the report, the banking problem in the United Kingdom has become so bad that some companies submitted complaints to the government. Despite the efforts of Prime Minister Rishi Sunak to establish Great Britain as a hub for digital assets, local banks work towards this goal.

Edouard Daunizeau, the founder of Savingblock, a crypto startup that offers a number of portfolios for passive investors, announced that he had difficulty securing his company's bank account.

according to the report, Daunizeau was rejected by seven of the nine lenders, which he addressed for a bank account. The two banks who have accepted his application have asked him for additional documents to learn details about how to monitor the transactions of his customers.

Joe David, another manager who co-founded the crypto-oriented accounting and service company Nephos Group, announced that the Wise PLC money transfer platform frozen for more than three months from November and referred to a violation of the general terms and conditions.

After a request, a spokesman for Wise said that the platform did not support companies that deal with crypto and freeze the accounts of customers who were found to be involved in such activities.

crypto-VC investment broke up by 94 % in the first quarter

Large banks may HSBC stocks and NATWEST group have also limited the amount of money that customers can move in crypto exchanges.

With the persistent bank restrictions, British lenders already lose crypto-floor compared to the rest of Europe. Data from PitchBook, a research company for risk capital (VC). reveals that VC investments in digital asset companies decreased by 94 % to $ 55 million in the first quarter, while the rest of Europe recorded an increase of 31 %.

Simon Jennings, managing director of the advocacy of the British Cryptoasset Business Council, commented on the matter as follows: "When Krypto began, the purists said that Krypto will bring the banks back. But ironically, it is the banks that could bring about crypto."

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