The finance minister of the United Kingdom has pledged to look into the reported difficulties faced by licensed cryptocurrency firms in opening business accounts in the country. Chancellor of the Exchequer Jeremy Hunt has agreed to meet with Economic Secretary of the Treasury Bim Afolami to discuss this issue, following a question raised by Lisa Cameron, Chair of the Crypto and Digital Assets All-Party Parliamentary Group.
During the parliamentary session, Hunt expressed his commitment to addressing the matter and acknowledged the importance of regulating the crypto market responsibly. He emphasized that the UK, particularly London, has emerged as a global hub for cryptocurrencies. In line with the government’s objective to foster the growth of the crypto industry, the country has introduced legislation to regulate stablecoins and promote crypto services.
