UK Banking Trade Group Removes Coinbase From Membership

WHY IT MATTERS

Think of a banking trade group like a professional club for banks. Being a member gives a company a seat at the table when important decisions about the financial industry are discussed. When a crypto company like Coinbase gets removed from such a group, it can make it harder for that company to work with traditional banks and participate in shaping financial policy. For people new to crypto, this is a reminder that cryptocurrency companies still face challenges gaining acceptance from the traditional financial world, even in countries that are actively working on crypto regulations. Access to banking services is essential for crypto exchanges to operate, since customers need ways to move money between their bank accounts and crypto platforms.