FT: Crypto wealthy face trust company pushback

Trust companies are reluctant to accept assets from wealthy individuals who made large sums from cryptocurrency, citing money-laundering risks and price volatility, the Financial Times reported. The report said not only crypto holdings themselves but also cash raised from selling them can be difficult to verify in terms of origin. Because trust companies are tasked with managing assets over the long term for future generations, they are concerned about potential disputes over fiduciary responsibility if crypto prices fall sharply. In the UK, £13.8 billion ($18.1 billion) worth of cryptocurrency was sold between May 2024 and April 2025, and about 250 people made profits of more than £1 million ($1.3 million) through those sales, according to the report. Some trust companies, meanwhile, are targeting that demand by specializing in crypto-related assets and using tools to track transaction histories, FT said.