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Stand With Crypto UK is telling its members to record ceremonial complaints with high-street banks implicit sector-wide transportation bans.
Jun 10, 2026, 5:53 p.m. 3 min read
The Coinbase-backed radical Stand With Crypto UK called connected its 286,000 members to record ceremonial complaints against British retail banks implicit broad restrictions connected crypto transactions, it announced Wednesday.
The run is simply a objection against country-wide slope rules that artifact oregon headdress lawsuit transfers to exchanges, including those registered with the Financial Conduct Authority (FCA), the radical said successful a property release. Around 8% of UK adults clasp cryptoassets, according to FCA research.
Stand With Crypto based its run connected information from the U.K. Cryptoassets Business Council’s "Locked Out" study from January 2026. The study surveyed 10 exchanges: Coinbase, Kraken, Uphold, Xapo Bank, Zumo, Wirex, OKX, Luno, Bitpanda and Gemini.
A time aft that study went out, a spokesperson for the HM Treasury, the country's economical and concern ministry, told CoinDesk that authorities officials expected banks to dainty each businesses fairly, including crypto services providers. “We would not expect specified licensed firms to beryllium taxable to relationship oregon transaction restrictions by banking services providers,” a spokesperson said.
The FCA study recovered that British banks artifact oregon hold 40% of each home crypto transactions. Over the past 12 months, 80% of these exchanges reported a emergence successful the fig of transfers blocked. One level reported that banks rejected up to 1 cardinal pounds (more than $1 million) successful transactions successful a azygous year.
The banking restrictions autumn into 2 categories, Stand With Crypto UK said. Complete blocks are utilized by Chase UK, Starling, TSB, Virgin Money and Metro Bank, which halt each transfers and paper payments to crypto exchanges. Hard transportation caps are acceptable by Barclays, HSBC, Nationwide, NatWest, Santander and Monzo, which enforce strict limits connected the wealth users tin transfer.
Last year, U.K.-based trading level IG besides released a damning survey saying millions of radical were being locked retired of crypto conscionable due to the fact that of they their banks anti-crypto stance. “Two successful 5 (40%) UK crypto investors person had a outgo blocked oregon delayed by their slope erstwhile trying to bargain integer assets,” according to the IG report.
Advocates astatine SWC accidental these policies use to everyone careless of an individual's existent hazard profile. They besides said that galore of these aforesaid banks are hiring integer plus teams and exploring crypto products down the scenes, making the retail lawsuit blocks anti-competitive.
"People crossed the UK are being blocked from accessing a ineligible plus people due to the fact that banks person chosen to enforce broad restrictions connected an full sector," said Adriana Ennab, manager astatine Stand With Crypto UK, successful a statement. "From today, they are formally telling their banks that these restrictions are unacceptable."
These blocks tally antagonistic to some section rules and the government's stated plans to marque the U.K. a planetary Web3 hub, SWC said. Under the Payment Services Regulations 2017, banks are obligated to execute payments that conscionable relationship conditions. In January 2026, HM Treasury explicitly stated it does not expect FCA-authorized firms to look transaction restrictions from banking providers, adding that firms indispensable beryllium treated fairly.
“The Government has acceptable retired a imaginativeness to marque the UK a planetary hub for integer assets and Web3," said Katie Harries, caput of policy, Europe, astatine Coinbase, successful a statement. "That imaginativeness requires retail information — wherever each time radical clasp and prosecute with crypto assets. But the banks are choking disconnected the important on-ramp from fiat (normal) wealth into crypto."
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