The UK-based neobank Starling Bank will restore its ability to deposit funds with cryptocurrency exchanges. This is reported by Decrypt, citing a company representative.
According to him, the restrictions will be lifted on 23 June after testing a new anti-financial-crime system.
On 31 May, Starling Bank suspended transfers due to concerns about illicit activity. The organisation said at the time that the issue was relevant to “all banks”.
According to The Telegraph, some UK financial institutions also blocked payments to cryptocurrency trading platforms.
Earlier, the UK Financial Conduct Authority (FCA) introduced a temporary registration regime for cryptocurrency firms awaiting regulator approval. It will run until 9 July 2021.
Currently, the FCA register lists five firms, two of which are linked to the Gemini crypto exchange. Applications from more than 160 organisations are still under review.
Earlier, British MP Tom Tugendhat urged authorities to pay attention to cryptocurrencies and to create space for their development.
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