UK crypto industry groups are pressing for changes to how banks handle transfers to and from regulated cryptocurrency exchanges. The Block reports that advocates estimate around 40% of UK crypto transactions are blocked or restricted by banks, arguing that existing practices are slowing or preventing wider adoption. CoinTelegraph says the campaign is being launched by Stand With Crypto UK, which claims banks are restricting access to exchanges despite the UK’s policy direction toward developing digital asset activity and innovation. Both accounts frame the issue as a mismatch between the regulatory status of exchanges and banks’ day-to-day transfer controls. Advocates are calling for easing restrictions so customers can transact more reliably with regulated platforms. The coverage centers on the impact of bank screening, transfer limits, or blocked payments on crypto users and exchanges, rather than on changes to cryptocurrency regulation itself. The campaign seeks to encourage policymakers to address how banking rules and enforcement practices affect crypto market access.
UK crypto advocates campaign to ease bank restrictions on exchange transfers
UK crypto industry groups are pressing for changes to how banks handle transfers to and from regulated cryptocurrency exchanges. The Block reports that advocates estimate around 40% of UK crypto trans...
- UK crypto advocates say banks block or restrict transfers to regulated cryptocurrency exchanges.
- One cited estimate is that about 40% of UK crypto transactions are blocked or restricted by banks.
- Stand With Crypto UK is launching a campaign calling for changes to these restrictions.
- The campaign argues current bank practices hinder crypto adoption despite government efforts to position the UK as a digital asset hub.
- The dispute focuses on transfer access and bank screening/controls rather than on exchange regulation.
Stand With Crypto UK says banks are restricting access to regulated exchanges even as policymakers seek to position the country as a hub for digital asset innovation.
11 hours agoIndustry groups say roughly 40% of UK crypto transactions are blocked or restricted by banks, as they push to ease restrictions.
14 hours ago
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