Near 40% of crypto investors have changed banks due to stricter policies
Banks from traditional finance in the United Kingdom (UK) have hardened their policies related to the cryptocurrency market. Some banks have reportedly closed accounts that interacted with centralized exchanges or are from crypto-related companies. A report published by Recap on October 19 uncovered that 38% of crypto investors within the UK have switched banks . This migration mostly occurred in response to stricter crypto currency policies . “Overall, the results found that 38% of investors have changed banks due to cryptocurrency policies. Of the remaining respondents, 22% have also strongly considered it. One respondent claimed to have their entire bank account blocked, including all cards and mobile banking facilities, because of a large amount of money that came in through cryptocurrency – others switched exchanges to ones more supported by banks.” — Dan Howitt, for Recap The report highlights that a global crackdown on the crypto industry has initiated these rigor...