Crypto Transfers to UK Financial Institutions Often Face Issues
After years of uncertainty, crypto and digital assets have finally reached mainstream acceptance. However, growing pains continue.
Research from the UK Cryptoasset Business Council (UKCBC) found that 40% of transfers between UK crypto exchanges and bank accounts are often blocked or delayed.
These issues frequently arise due to blanket bans or transaction caps that financial institutions have implemented to protect against fraud. Yet, these problems still occur even when customers use crypto platforms licensed by the UK’s Financial Conduct Authority.
As crypto adoption grows, the issue appears to be worsening. After analyzing transactions at 10 of the UK’s largest exchanges, UKCBC found…
