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Stand With Crypto UK has launched a campaign urging crypto users to file formal complaints against banks that block or limit transfers to digital asset exchanges.
The Coinbase-backed advocacy group is asking more than 286,000 registered UK supporters to challenge restrictions affecting transfers to crypto platforms, including firms registered with the Financial Conduct Authority.
The campaign turns a long-running industry complaint into a consumer action effort. It comes as the UK builds a fuller crypto rulebook, with the FCA saying the new cryptoasset regime is expected to come into force on Oct. 25, 2027.
Complaint Tool Turns Blocks Into Bank Cases
Stand With Crypto UK is using an online tool that lets users generate complaint letters to their banks. The group says bank responses will help shape the next stage of the campaign.
The group argues that customers should not be blocked from sending their own money to legal crypto services because of sector-wide bank restrictions. It says many affected transfers involve FCA-registered exchanges rather than unregulated offshore platforms.
UKCBC Says 40% of Transfers Face Friction
The campaign relies on the UK Cryptoassets Business Council’s January report, which found that banks block or delay about 40% of attempted transfers from UK customers to crypto exchanges. The report also found that 80% of surveyed exchanges saw customer friction rise over the past year.
One exchange reported nearly £1 billion in declined transactions over a 12-month period because of bank-side rejections. The report said those conditions reduced some platforms’ willingness to invest, scale and hire in the UK.
Banks Cite Fraud Risks in Crypto Blocks
Banks have defended crypto payment controls as fraud protection. HSBC says it has taken steps to protect customers from cryptocurrency fraud after a rise in scams involving digital assets.
Crypto firms argue that fraud checks should be risk-based rather than blanket restrictions. The dispute has sharpened since UK payment rules made banks more exposed to authorised push payment fraud losses, giving lenders more reason to stop transactions they view as risky.
FCA Says 8% of UK Adults Own Crypto
The FCA’s latest research found that 8% of UK adults own cryptoassets, double the level recorded in 2021. That makes bank access a consumer issue as well as an industry issue.
The next step is whether complaint volumes force banks, regulators or lawmakers to respond. For exchanges, the campaign is also a test of whether the UK’s crypto policy work can translate into reliable payment access for customers.
