UK banks’ anti-crypto stance intensifies even as regulatory process moves forward
Despite regulatory progress, UK banks are increasingly blocking or limiting customer access to crypto exchanges, hindering the growth of the digital asset economy.Summary
A recent report by the UK Cryptoasset Business Council reveals growing hostility from British banks towards the cryptocurrency industry, even as the UK aims to establish itself as a global crypto leader. The report found that 80% of exchanges experienced increased blocks or limits on customer bank transfers in 2025, with 40% of transactions blocked or delayed. Major banks like HSBC, Barclays, and NatWest impose restrictions, while others fully block crypto transfers. This “debanking” is seen as a major obstacle to the growth of the UK’s digital asset economy. However, the Financial Conduct Authority (FCA) is demonstrating more openness, consulting on new rules to be implemented by October 2027, and legislation extending financial rules to cover the crypto industry was enacted at the end of 2025. Despite this regulatory progress, banks cite customer protection and risk management as reasons for their restrictive policies, and some exchanges are prioritizing other markets due to these challenges.
(Source：CoinDesk)