The UK government has instructed banks not to deprive crypto customers of their basic banking needs.

According to Mars Finance, on January 29th, the UK government explicitly instructed banks and other financial institutions not to deprive compliant crypto companies of basic banking services simply because they engage in crypto business. Banks should assess crypto clients on a case-by-case basis, rather than imposing a blanket ban. However, banks will still be required to strictly adhere to anti-money laundering (AML) and counter-terrorism financing obligations; regulatory oversight will not be relaxed.