The UK wants banks to have less exposure to crypto by next year – here’s why

The Bank of England is set to propose restrictions on banks’ crypto investments, aiming for compliance with Basel Committee guidelines by 2026.

David Bailey, an official at the Bank of England, highlighted the necessity for banks to maintain minimal crypto exposure due to potential risks.

The UK’s Financial Conduct Authority plans to establish a new regulatory framework for crypto firms, set to be implemented in 2026.