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Stand With Crypto UK urges complaints over banks’ restrictions on regulated exchanges

Stand With Crypto UK urges complaints over banks’ restrictions on regulated exchanges

The Coinbase-backed group is pressing its 286,000 UK members to challenge bank bans and limits on crypto payments as campaigners cite broad restrictions affecting legal transfers to FCA-authorized platforms.

Fact Check
Every element of the claim is corroborated by the primary source and multiple independent outlets. The original Stand With Crypto UK X post confirms the campaign against bank restrictions on transfers to crypto exchanges and the 'Your money. Your choice.' messaging. CoinDesk confirms the group is Coinbase-backed and urging members to file complaints. Cointelegraph and crypto.news both confirm the 286,000-member figure, the focus on FCA-authorized/registered platforms, and the underlying report on widespread restrictions. There is no conflicting evidence.
Summary

Stand With Crypto UK has intensified its campaign against bank restrictions on crypto payments, telling its 286,000 members to file formal complaints over what it says are blanket bans and limits on transfers to cryptocurrency exchanges, including FCA-authorized platforms. The group points to UK Cryptoassets Business Council data showing nearly 40% of domestic crypto transactions are blocked or delayed and says the curbs clash with the UK government’s ambition to become a digital-asset hub. HM Treasury has said it expects businesses to be treated fairly and that licensed crypto firms should not face account or transaction restrictions simply because of their sector. Banks say the controls are designed to reduce fraud and financial crime, but critics argue they are indiscriminate, apply regardless of customer risk and may also be anti-competitive as some banks build internal digital-asset teams while limiting retail access.

Terms & Concepts
  • FCA-authorized platforms: Crypto companies or exchanges authorized by the Financial Conduct Authority to operate under UK regulatory requirements.
  • Payment Services Regulations 2017: UK rules governing payment services, including when banks must execute payments that meet account conditions.
  • digital-asset hub: A country or market seeking to attract crypto businesses, investment and related financial innovation.