Banks’ crypto rollout is still a long way off

The UK Financial Conduct Authority says
wholesale banks can now apply
to vary their existing permissions
and conduct cryptoasset business

Custody and trading platforms can apply
stablecoin issuance is also included
as is staking

Applications are open, but none have been approved
and those who’ve submitted paperwork haven’t launched yet

If you want to keep operating during the review
it’s best to submit your paperwork by the end of February next year
The new rules won’t take effect until late October next year
If you don’t meet the requirements, you won’t be able to continue

I want to use the banking route to buy crypto
but there aren’t any new products available yet
I wouldn’t use it for short-term trading $BTC

Let’s see if any banks actually submit their paperwork first
#英国银行可申请加密资产业务 $BTC