Ever since cryptocurrencies began to dominate the public sphere during the boom in 2017 where Bitcoin jumped in price and reached $19,891.00, the regulatory situation surrounding blockchain and cryptocurrency projects can be described as murky at best. Around the world, since the advent of Bitcoin and other currencies, banks have been incredibly reluctant to work with the crypto world, generally, preferring to shut down cryptocurrency firms by banning them and their customers from making cryptocurrency based transactions.

Examples of this have appeared all over the world, on almost every continent. In the United Kingdom, cryptocurrency users are now expected to pay tax on their assets. That would be completely reasonable if it wasn’t for the fact that numerous cryptocurrency users in the country are complaining about their bank shutting down their accounts due to making transactions involving cryptocurrency. This has left numerous individuals with no choice but to set up new bank accounts because of their old ones being frozen, this has led to numerous people losing out on money.

These actions are being repeated all across the world by various banks. This includes institutions in China, Columbia, Chile, Ireland, India , Canada, and many other countries, with some instances even being in the United States.

Despite this, some institutions are looking to get ahead of the curve and are exploring ways in which they can adapt blockchain and cryptocurrencies to suit their business model. In this article, we will be exploring those businesses and why they are having a change of heart with cryptocurrencies.