Revolut announces it will suspend some cryptocurrency services in the UK due to new UK encryption regulations

According to CoinDesk's report on December 19, digital bank Revolut plans to suspend some cryptocurrency services in its UK business due to new regulations issued by the country's regulatory agency.

Revolut is registered with the UK Financial Conduct Authority (FCA) to provide cryptocurrency services in the country. The bank has decided to suspend the ability of its UK business customers to purchase cryptocurrency through Revolut Business from January 3, 2024. The report states that customers in the country will still be able to hold and sell cryptocurrency.