UK investors can't get a mortgage. Several lenders refused to cooperate, even after investors converted Bitcoin to fiat and provided proof of income.
Despite the fact that cryptocurrency trading is not prohibited in the United Kingdom, the number of UK credit unions that do not accept funds received from crypto transactions is growing every day.
One broker told the Financial Time: "The first lender I called didn't know what cryptocurrency was. The second one said he wouldn't work with me. When I explained where the funds were coming from and that I could convert them to fiat, I was met with a huge reluctance to cooperate and understand what was going on. It seems to me that lenders are not ready to work with cryptocurrency, even though more and more people are making money this way."
The Association of Mortgage Lenders commented on the situation as follows: "As there is currently no regulation of digital currencies, this makes such investments quite risky. In addition, we know that cryptocurrencies are widely used in the criminal world for money laundering."
Other UK lenders and banks are willing to cooperate with Bitcoin investors if they provide proof of income. One such lender explained: “Lenders are so spooked by the FCA's recent tightening of money laundering rules that they may go beyond what is reasonable to avoid liability.”
According to https://news.bitcoin.com
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