Stand With Crypto UK, a group backed by Coinbase, has launched a member-driven campaign urging consumers to file formal complaints against British retail banks that impose blanket restrictions on crypto transactions.
The organisation — which says it has 286,000 UK members — is mobilising users in response to widespread bank rules that either block or cap transfers to cryptocurrency exchanges, including those authorised by the Financial Conduct Authority (FCA). Stand With Crypto’s push draws on the U.K. Cryptoassets Business Council’s January 2026 “Locked Out” report, which surveyed ten exchanges: Coinbase, Kraken, Uphold, Xapo Bank, Zumo, Wirex, OKX, Luno, Bitpanda and Gemini.
Key findings and context
- FCA research indicates roughly 8% of UK adults hold cryptoassets.
- The FCA (and industry reporting) says British banks block or delay about 40% of domestic crypto-related transactions. Over the past year, 80% of the surveyed exchanges reported an increase in blocked transfers, and one platform said banks rejected up to £1 million in transactions in a single year.
- An IG survey last year echoed similar concerns: 40% of UK crypto investors reported having a payment blocked or delayed by their bank when attempting to buy digital assets.
Two types of restrictions
Stand With Crypto UK categorises banking restrictions into two main approaches:
- Complete blocks: Chase UK, Starling, TSB, Virgin Money and Metro Bank reportedly stop all transfers and card payments to crypto exchanges.
- Hard transfer caps: Barclays, HSBC, Nationwide, NatWest, Santander and Monzo impose strict limits on how much customers can send to exchanges.
Campaign message and industry response
Stand With Crypto argues these measures are applied indiscriminately — irrespective of an individual’s risk profile — and are anti-competitive, noting that some of the same banks are quietly hiring digital-asset teams and exploring crypto products. “People across the UK are being blocked from accessing a legal asset class because banks have chosen to impose blanket restrictions on an entire sector,” Adriana Ennab, director at Stand With Crypto UK, said in a statement. “From today, they are formally telling their banks that these restrictions are unacceptable.”
The campaign also points to regulatory and policy guidance. Under the Payment Services Regulations 2017, banks are expected to execute payments that meet account conditions, and in January 2026 HM Treasury told CoinDesk it does not expect FCA-authorised firms to face account or transaction restrictions by banking providers. “We would not expect such licensed firms to be subject to account or transaction restrictions by banking services providers,” a Treasury spokesperson said.
Coinbase’s position
Katie Harries, head of policy, Europe at Coinbase, framed the issue in terms of the UK’s ambitions for digital assets: “The Government has set out a vision to make the UK a global hub for digital assets and Web3. That vision requires retail participation — where every day people hold and engage with crypto assets. But the banks are choking off the crucial on-ramp from fiat money into crypto.”
What’s next
Stand With Crypto UK is asking affected customers to lodge formal complaints to push banks to change course. The campaign aims to turn individual frustration into a coordinated challenge to banking practices that, according to industry groups and regulators, risk undermining the UK’s stated goal of becoming a leading digital-asset hub.
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