Stand With Crypto UK has launched a campaign against cryptocurrency transfer restrictions imposed by banks after a report revealed that 40% of cryptocurrency transactions in the country were blocked or limited.
According to Stand With Crypto UK, the organization is calling on its 286,000 members to challenge banks restricting transfers to cryptocurrency exchanges, arguing that many of the affected transactions involve platforms registered with the UK’s Financial Conduct Authority.
The reality is that crypto is LOCKED.
For consumers and for businesses.Broad restrictions on transfers to crypto exchanges raise important questions about consumer choice, competition and innovation.
It’s time to file a complaint with the banks.
Your money. Your choice. 👉… pic.twitter.com/pxV84hIjRt
– Support crypto in the UK🛡️🇬🇧 (@StandWCrypto_UK) June 10, 2026
The campaign follows the findings of a report published by the UK Cryptoassets Business Council, which found that banking restrictions have become a growing barrier for crypto users and businesses.
The report reveals that 40% of crypto transactions are blocked or restricted by UK banks, while many controls are applied without considering the risk profile of individual customers.
Data cited in the report showed that one crypto exchange experienced almost £1 billion in declined transactions over a one-year period due to rejections from banks. Additionally, 80% of crypto platforms surveyed reported an increase in blocked or restricted transfers.
Banking restrictions have become a major sector concern
Through a tool available on its website, Stand With Crypto allows users to generate complaint letters challenging transfer restrictions imposed by their banks. The group said responses received from financial institutions will help shape the next phase of the campaign.
Rather than focusing on unregulated services, the organization argues that many restrictions affect transfers to FCA-registered crypto exchanges operating within the UK’s existing regulatory framework. Stand With Crypto argues that blanket transaction limits can prevent consumers from accessing digital assets even when using regulated platforms.
The issue has emerged as the UK continues to develop its approach to regulating digital assets. Industry players increasingly argue that banking restrictions limit participation in the crypto market despite efforts by regulators to establish clearer rules for the sector.
Figures from the UK Cryptoassets Business Council suggest the problem has intensified over the past year. In addition to the £1 billion worth of transactions being rejected on one exchange, the survey results indicate that transfer restrictions are becoming more common across several crypto platforms.
UK regulators continue to refine crypto rules
While Stand With Crypto’s campaign focuses on banking access, policymakers are advancing multiple digital asset initiatives simultaneously.
Earlier this month, as crypto.news reported, a House of Lords committee warned that some proposed Bank of England stablecoin requirements could make pound-denominated stablecoins more difficult to bring to commercial scale. The committee supported a clear regulatory framework in the UK, but warned that reserve requirements and holding limits should not compromise the viability of potential emissions.
Other regulatory proposals have also emerged in recent weeks. In May, the Bank of England proposed extending the operating hours of the country’s settlement infrastructure to support tokenized financial markets.
Most recently, on June 8, the Financial Conduct Authority proposed allowing certain retail-focused investment funds to allocate up to 10% of their portfolios to exchange-traded crypto products.
As regulators continue to shape the UK’s digital assets framework, Stand With Crypto seeks to overcome what it sees as an immediate barrier to adoption: the ability of consumers to freely move funds between bank accounts and regulated crypto exchanges.