UK banks hit by 10,000 crypto transfer complaints
A Stand With Crypto report says 9,800 people filed 10,092 complaints about U.K. banks restricting crypto purchases over 90 days from May to August. Lloyds received the most complaints, followed by Barclays and NatWest. The group says banking limits and blocked transfers undermine the government’s aim of making the U.K. a crypto hub, even as authorities develop a comprehensive regulatory regime. Some banks publish transaction caps or bans, while others have no stated policy despite customer complaints. The report is based on voluntary submissions and is not representative of all banking customers, so complaint totals do not show banks’ relative restriction rates. SWC calls for clearer disclosures and case-by-case assessments; banks cite fraud, scams and money-laundering risks.
