UK Regulator: DLT Startups Are Being Denied Banking Services
The U.K.'s Financial Conduct Authority found that DLT businesses do not receive loans from banks as much as other companies.
The FCA's decision not to enforce its own January registration deadline is little comfort to crypto startups that have been in limbo for months.
The subsidiary of cryptocurrency exchange Kraken has obtained a U.K. license allowing it to operate its derivatives platform in the EU.
The Financial Conduct Authority ban on the sale of derivatives and exchange-traded notes was passed in October.
The exchange hired Julian Sawyer, former co-founder and chief operating officer of a U.K. digital bank, to shape the exchange’s strategy in the region and manage European hiring.
The U.K. Financial Conduct Authority warned against investing in cryptocurrency-based contracts in a post published Tuesday.