Your Business FAQ page says:
Unfortunately, Revolut for Business is not currently available to businesses operating in the following higher risk industries:
Any reason? Seems like you are pretty crypto-friendly, working to integrate BTC into your app, so that statement is fairly surprising.
Is that a strict no-no, or are you open to case-by-case considerations, if for example the business can prove that it does KYC and/or registers for UK AMLS?
Points I’ve been researching:
The UK government acknowledges crypto, namely stating these two tax-related facts:
- when Bitcoin is exchanged for Sterling or for foreign currencies, such as Euros or Dollars, no VAT will be due on the value of the Bitcoins themselves
- charges (in whatever form) made over and above the value of the Bitcoin for arranging or carrying out any transactions in Bitcoin will be exempt from VAT under Article 135(1)(d) as outlined at 2 above
The relation between Anti Money Laundering and Bitcoin is not defined (source Apr. 2017), however as responsible businesses we choose to do KYC on a voluntary basis to make sure we know where money comes from and be able to report should there be any investigation.
Would that cater to you?
I will be happy to hear more from you on this matter.