UK Crypto Regulation and Bank Restrictions Show a Gap as Over 9,800 Users Complain of Blocked Transfers

October 25: According to CoinDesk, citing a report by crypto advocacy group Stand With Crypto (SWC), UK consumers submitted 10,092 complaints through its online tool between May and August this year about banks restricting crypto purchases, involving 9,800 users and covering all 650 UK parliamentary constituencies. Among them, Lloyds Banking Group (including Halifax and Bank of Scotland) received 2,297 complaints, about 23% of the total; Barclays and NatWest Group received 1,569 and 1,278 respectively.

However, SWC also emphasized that these complaints came from consumers who actively used its online tool and are not a representative survey of bank customers, so they cannot be used to directly judge the complaint rate of each bank. The report shows that some banks have explicit limits on crypto transfers, while other banks such as Chase, Starling and TSB were listed as institutions that ban such transactions outright.