Crypto firms face growing banking barriers in the UK
Crypto holders are being “debanked” in the UK, with both high-street and challenger banks imposing strict limits on or even blocking cryptoasset platforms, despite the UK Government’s ambition to make the country a global destination for digital assets.
Surveying ten of the largest centralised cryptoasset exchanges (CEXs), the UK Cryptoasset Business Council’s Locked Out study found a “steadily worsening trend” of banks and payment providers taking a blanket approach to crypto, with one unnamed exchange reportedly seeing close to £1 billion in declined transactions.
Polling some of the world’s best-known exchanges, including Coinbase, Kraken, Wirex, Bitpanda, and Zumo, the study…
