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clarification

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The UK Parliament's All-Party Group on Crypto Assets has written to major banks requesting clarification on account and payment restrictions for crypto businesses

The UK Parliament's Crypto and Digital Assets APPG co-chair Gurinder Singh Josan and Lord Vaizey of Didcot have written to the CEOs of all major UK banks, requesting clarification on how they treat cryptocurrency and digital asset businesses. The letter raises six questions regarding the banks' current policies, whether they provide services to crypto businesses, related transaction restrictions and their determining factors, and whether they have adjusted their practices since the UK Financial Conduct Authority (FCA) regulatory regime came into effect.The group stated that many crypto businesses find it difficult to open bank accounts in the UK, and some banks restrict related payments. This letter stems from the parliamentary inquiry into access to banking services launched on July 21, with written submissions due by August 31. A January survey by the UK Crypto Asset Business Council indicated that the proportion of transactions blocked or delayed by banks when transferring to crypto exchanges is estimated to be as high as 40%. HSBC, NatWest, Monzo, and Nationwide limit the amount transferred to crypto exchanges each month to between £5,000 and £10,000, while Starling and Chase UK prohibit such transfers altogether. Lucy Rigby, the Economic Secretary to the Treasury, stated that the government does not want FCA-licensed businesses to be restricted by banks solely because of their industry; the FCA completed the relevant rules in June, and the regime will be enforced from October 2027.

Gate founder and CEO Dr. Han: Clarification of regulations and integration with TradFi become key trends

According to a recent video interview by Cointelegraph, Dr. Han, the founder and CEO of Gate, stated that the cryptocurrency industry is gradually shifting from a speculation-driven market to a phase focused on infrastructure development and real-world applications.Dr. Han pointed out that stablecoins, RWA, AI, and asset tokenization are becoming the core directions of the industry, while a clearer regulatory framework (such as the CLARITY Act) is expected to further promote DeFi, payments, and on-chain financial innovations.Dr. Han also mentioned that high user entry barriers, security risks, and fragmented liquidity remain significant challenges currently faced by the industry. In the future, the cryptocurrency industry will further integrate with traditional finance and play a more important role in areas such as payments, settlements, and the circulation of digital assets.Gate continues to deepen its multi-asset and TradFi layout. In addition to expanding assets such as stocks, metals, foreign exchange, indices, and commodities, it has also launched Pre-IPOs and listed its first project, SpaceX (SPCX). At the same time, as one of the first CEX platforms to access Polymarket, Gate is continuously promoting the development of the prediction market ecosystem and accelerating the construction of a comprehensive trading platform covering both cryptocurrency and traditional finance.
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