Crypto
UK banks block 40 percent of transfers to crypto exchanges, industry urges improvements
UK banks are increasingly blocking or delaying transfers to cryptocurrency exchanges, industry representatives say. A report by the UK Cryptoasset Business Council found major banks are restricting payments linked to crypto trading. Eight of 10 centralised exchanges surveyed reported more instances of customer transfers being blocked or limited. The group estimated banks block or delay 40 percent of transfers to exchanges, and urged the government and regulators to prevent excessive intervention and adopt a risk-based approach.
