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CoinTelegraph reported that an increasing number of UK crypto investors are encountering blocked or delayed account funding by banks, raising concerns about the country's digital asset competitiveness.
According to CoinTelegraph, UK banks are increasingly restricting or halting payments to crypto exchanges, despite the legality and regulation of crypto trading in the country. This situation persists even for retail investors using exchanges registered under the Financial Conduct Authority (FCA), which mandates digital asset firms to comply with Anti-Money Laundering (AML) obligations. CoinTelegraph notes that institutions like NatWest and Chase UK have imposed broad restrictions on crypto transactions, often citing fraud prevention. However, critics argue that such actions reflect overregulation, stifling innovation and user access.
A press release from IG Group, cited by CoinTelegraph, reveals that 40% of surveyed UK crypto investors reported their bank had either blocked or delayed a payment to a crypto provider. Among those affected, 29% said they filed complaints with their financial institution in an attempt to challenge or reverse the action. Additionally, 35% of those impacted chose to switch banks entirely—indicating that institutional resistance to crypto is actively reshaping consumer loyalty and behavior.
