Revolut To Stop UK Business Clients From Buying Crypto
Revolut to stop UK business clients from buying crypto in 2024 due to FCA rules, while retail remains unaffected and firms adapt to regulations.
Fintech firm, Revolut will stop UK business clients from buying crypto by next year. According to a report, these clients can still hold or sell crypto but can't purchase more. This change is due to new requirements from the Financial Conduct Authority (FCA), aiming to protect investors.
Revolut is adjusting its services to meet these new rules, affecting only business customers. Retail customers won't see any change.
In August, Revolut also paused crypto services in the U.S. due to regulatory challenges. Similarly, in the UK, crypto firms are adapting to new government rules set to protect users. PayPal UK, for instance, successfully registered with the FCA to offer crypto services in the country.
