UK Banks Restrict Crypto Transfers, Threatening Market Growth
Major UK banks are increasingly obstructing cryptocurrency transactions, with 40% of transfers to regulated exchanges being blocked or delayed. A UKCBC survey reveals eight in ten platforms face worsening payment restrictions, stifling innovation and driving business offshore.
Blanket banking policies fail to distinguish between risk profiles, subjecting FCA-compliant crypto firms to the same limitations as unregulated entities. The lack of transparency from financial institutions erodes consumer trust and creates operational hurdles for exchanges.
Industry leaders warn these measures could permanently damage Britain's position in digital asset markets. The report highlights how financial infrastructure limitations may accelerate the exodus of crypto businesses to more accommodating jurisdictions.
