LONDON—The British government has pledged to probe banking troubles faced by crypto companies with “lawmakers focused on the issue,” according to a new report.
Finance Minister Jeremy Hunt has agreed for his department officials to investigate the matter after Lisa Cameron, an MP and chair of the Crypto and Digital Assets All-Party Parliamentary Group (APPG) questioned him on how difficult it is for licensed companies to open bank accounts, Coindesk reported..
According to the report, Hunt responded positively, adding that the Economic Secretary of the Treasury, Bim Afolami, should meet with the APPG to discuss progress.
‘Global Hub’
“The U.K., London in particular, has become the global crypto hub, but to make sure the market really can take off in the way that was intended responsibly, we need to regulate it, which is why we’ve introduced regulations for stablecoins, for promotion of crypto services,” Hunt was quoted by Coindesk as stating.
Similar legislation has already been signed as law in Indiana and Florida.
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