UK Desires Banks to Have Less Direct Exposure to Crypto by Next Year– Here’s Why
The UK is coming up with more crypto guidelines that would be on the ‘restrictive end,’ motivating banks to keep low exposure to crypto. The Bank of England (BOE) is considering a proposal that would limit UK banks’ direct exposure to crypto by 2026. The FCA is currently seeking public input on its stablecoin regulation plan. The constraints on banks’ crypto exposure come at a time when European banks are increasingly involved in crypto. The EU watchdog, ESMA, noted that 95% of EU banks do not engage in crypto activities, while banks like BBVA have started encouraging wealthy clients to invest in crypto.
