UK crypto advocates launch campaign against banks blocking exchange transfers
Stand With Crypto UK is urging its 286,000 members to challenge UK banks that block or restrict transfers to cryptocurrency exchanges, saying blanket limits are limiting access to digital assets even on FCA-registered platforms. The campaign cites a UK Cryptoassets Business Council report claiming 40% of crypto transactions are blocked or restricted by banks. One exchange reportedly saw nearly £1 billion in declined transactions over a year, and 80% of surveyed platforms said blocked or restricted transfers increased. The group is offering a website tool that generates complaint letters to banks, with responses intended to shape future campaign steps. ClearBank’s CEO argued banks should use a targeted, risk-based approach rather than broad restrictions. The campaign comes as UK policymakers continue working on a stablecoin framework, weighing rules on reserves, holdings, and financial stability while trying not to stifle the sector.
