UK crypto group campaigns against banks blocking exchange transfers

Stand with Crypto UK, a British cryptocurrency advocacy group, has launched a campaign against banks restricting transfers to crypto exchanges, Cointelegraph reported. The group claims that UK banks are imposing blanket restrictions on transfers to regulated crypto exchanges, thereby hindering access to digital assets. Citing a report from the UK Cryptoasset Business Council (UKCBC), the campaign highlighted that approximately 40% of crypto transactions in the UK are blocked or limited by banks. The report also found that some exchanges have seen around £1 billion in transactions fail over a single year due to bank rejections.