Coinbase-backed Stand With Crypto calls on members to campaign against banks blocking digital asset transactions

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Coinbase-backed Stand With Crypto calls on members to campaign against banks blocking digital asset transactions Stand With Crypto UK is telling its members to file formal complaints with high-street banks over sector-wide transfer bans. By Olivier Acuna | Edited by Nikhilesh De Jun 10, 2026, 5:53 p.m. 3 min read Make preferred on Coinbase-backed Stand With Crypto has kicked off a campaign against banks in the U.K. that are systematically blocking their crypto-related transactions despite government objection. (SWC/Coinbase) What to know : Stand With Crypto UK, a Coinbase-backed group, has launched a nationwide campaign urging its 286,000 members to file formal complaints against British banks over blanket restrictions on crypto transactions. The group cites data showing that U.K. banks block or delay about 40% of domestic crypto transfers and either fully block or strictly cap payments to exchanges, even those authorized by the Financial Conduct Authority. Advocates argue that these policies contradict U.K. payment rules and the government’s stated ambition to become a global digital-assets hub, and say banks are unfairly limiting retail access while developing their own crypto offerings. The Coinbase-backed group Stand With Crypto UK called on its 286,000 members to file formal complaints against British retail banks over blanket restrictions on crypto transactions, it announced Wednesday. The campaign is a demonstration against country-wide bank rules that block or cap customer transfers to exchanges, including those registered with the Financial Conduct Authority (FCA), the group said in a press release. Around 8% of UK adults hold cryptoassets, according to FCA research. Stand With Crypto based its campaign on data from the U.K. Cryptoassets Business Council’s "Locked Out" report from January 2026 . The report surveyed 10 exchanges: Coinbase, Kraken, Uphold, Xapo Bank, Zumo, Wirex, OKX, Luno, Bitpanda and Gemini. A day after that report went out, a spokesperson for the HM Treasury, the country's economic and finance ministry, told CoinDesk that government officials expected banks to treat all businesses fairly, including crypto services providers. “We would not expect such licensed firms to be subject to account or transaction restrictions by banking services providers,” a spokesperson said. The FCA report found that British banks block or delay 40% of all domestic crypto transactions. Over the past 12 months, 80% of these exchanges reported a rise in the number of transfers blocked. One platform reported that banks rejected up to 1 million pounds (more than $1 million) in transactions in a single year. The banking restrictions fall into two categories, Stand With Crypto UK said. Complete blocks are used by Chase UK, Starling, TSB, Virgin Money and Metro Bank, which stop all transfers and card payments to crypto exchanges. Hard transfer caps are set by Barclays, HSBC, Nationwide, NatWest, Santander and Monzo, which impose strict limits on the money users can transfer. Last year, U.K.-based trading platform IG also released a damning survey saying millions of people were being locked out of crypto just because of they their banks anti-crypto stance. “Two in five (40%) UK crypto investors have had a payment blocked or delayed by their bank when trying to buy digital assets,” according to the IG report . Advocates at SWC say these policies apply to everyone regardless of an individual's actual risk profile. They also said that many of these same banks are hiring digital asset teams and exploring crypto products behind the scenes, making the retail customer blocks anti-competitive. "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," said Adriana Ennab, director at Stand With Crypto UK, in a statement. "From today, they are formally telling their banks that these restrictions are unacceptable." These blocks run counter to both local rules and the government's stated plans to make the U.K. a global Web3 hub, SWC said. Under the Payment Services Regulations 2017, banks are obligated to execute payments that meet account conditions. In January 2026, HM Treasury explicitly stated it does not expect FCA-authorized firms to face transaction restrictions from banking providers, adding that firms must be treated fairly. “The Government has set out a vision to make the UK a global hub for digital assets and Web3," said Katie Harries, head of policy, Europe, at Coinbase, in a statement. "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 (normal) money into crypto." banks UK Coinbase More For You Netomi CEO says $5 trillion AI customer experience market could boost stablecoin demand By Olivier Acuna | Edited by Jamie Crawley 1 hour ago Puneet Mehta, a former high-level Wall Street engineer and data scientist, said the rapid expansion of AI enterprise software will increase demand for stablecoins and blockchain. What to know : Netomi CEO Puneet Mehta predicts the customer experience market will expand from about $500 billion today to $5 trillion by 2030 as AI moves deeper into sales, conversion and upselling. Mehta argues that AI and crypto are complementary, saying autonomous AI agents will need 24/7 blockchain-based payment rails and stablecoins... 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