Restrictions on Cryptocurrency by UK Banks are Increasing

UK Banks Impose Restrictions on Cryptocurrency Transactions

UK banks have increasingly started to block or restrict customer transfers even to cryptocurrency exchanges registered with the Financial Conduct Authority (FCA). A recent study revealed that by 2025, the UK Crypto Asset Businesses Council found that 80% of exchanges will face more customer transfer barriers. According to the research, transfers were blocked or delayed at a rate of 40% per transaction.

Major banks such as HSBC, Barclays, and NatWest have implemented restrictions on transfers to crypto platforms, while others like Chase UK, Metro Bank, TSB, and Starling Bank have completely blocked such payments. These banks cite concerns over fraud and consumer protection as justification.