United Kingdom: Banks vs Government

United Kingdom’s government has set a strategic plan for the next years, to transform the country into a crypto hub that will attract crypto companies around the world.

Based on the latest events, banks has started to get way from the crypto game. Banks in the UK like HSBC and Natwest have restricted their clients from sending money into crypto exchanges while Barclays have banned transactions to Binance since 2021.

For good or for bad, crypto companies still need the banking system so they can operate and every move is leaning towards that.

The alternative payments system has become a reality for many consumers but more years will pass before there is a solid framework that will allow cryptos to fit in the financial world.