Express

Revolut Bank License Dispute May Hinder UK Fintech Industry Development

Summary: According to Crowdfund Insider, the dispute over the banking license of digital banking giant Revolut may hinder the development of the UK fintech industry. The company has been waiting for over three years to obtain a full UK banking license. Previously, Chancellor of the Exchequer Rachel Reeves attempted to speed up the license approval process ...

According to Crowdfund Insider, the dispute over the banking license of digital banking giant Revolut may hinder the development of the UK fintech industry. The company has been waiting for over three years to obtain a full UK banking license. Previously, Chancellor of the Exchequer Rachel Reeves attempted to speed up the license approval process by arranging a meeting between Revolut and the Bank of England regulatory agency, but Andrew Bailey intervened and canceled the meeting, citing government interference in the central bank's independent regulatory authority.

Last Update:

Tags:
Link: Revolut Bank License Dispute May Hinder UK Fintech Industry Development [Copy]

Last: Analyst: Rate Cut Expectations Rise in Resonance with SEC New Policies, Market Sentiment Improves

Next: Cardano Community Approves $71 Million Funding for Network Upgrade

The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? 5 days ago

Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules 9 days ago

BTC Weekly Outlook: The Oversold Bounce—A Bottom or a Shorting Opportunity? 11 days ago

The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 16 days ago

Google Steps Into Blockchain: A New Front in the “Ledger Wars” 17 days ago