Coinbase has lost its membership of UK Finance, the trade body that lobbies for Britain’s banks. The group’s board sent the US crypto exchange a termination letter last week, Bloomberg reported on Wednesday.

UK Finance speaks for around 300 banking and finance firms. Its board ended the membership after reviewing its eligibility framework, and Coinbase can appeal, according to Bloomberg.

What Losing the UK Finance Seat Means for Coinbase

Bloomberg based its report on people with knowledge of the matter. UK Finance describes itself as a membership organization for the banking and finance industry.

A trade body is not a…