Banks Block Crypto Moves, Fans Demand Change

A group linked to the crypto exchange Coinbase has urged its 286, 000 members in Britain to file formal complaints against local banks that are restricting or stopping payments to crypto platforms. The movement, named Stand With Crypto UK, claims that these blanket rules prevent people from buying or selling digital assets, even though many banks are developing crypto services behind the scenes. The group cites a January report that examined ten major exchanges, showing that 40 % of domestic crypto transactions are blocked or delayed by banks. Over the past year, eight‑tenths of those exchanges said they faced more blocks, with one reporting that a single bank rejected over 1 million pounds in crypto payments.Stand With Crypto UK lists the banks that enforce complete bans—such as Chase UK, Starling, TSB, Virgin Money and Metro Bank—and those that set strict transfer limits, including Barclays, HSBC, Nationwide, NatWest, Santander and Monzo. The organization argues that such blanket restrictions are unfair to consumers who have no higher risk than traditional customers, especially when the same banks are building internal crypto teams. Government officials have said that licensed firms should not be subject to transaction limits, and the UK’s Payment Services Regulations require banks to process payments that meet account conditions. Yet the current restrictions contradict these rules and clash with the government’s aim to position Britain as a global Web3 hub. Stand With Crypto UK says that its members are now formally telling banks that these policies are unacceptable and that they must allow legal crypto transactions to proceed without interference.