Nine of the United Kingdom’s 10 largest retail banks block or limit payments to crypto exchanges, and banks can continue applying those restrictions as the Financial Conduct Authority prepares to authorize firms under the country’s new crypto regime. The FCA will accept applications from 9 a.m. on Sept. 30, 2026, through Feb. 28, 2027, ahead of the framework’s planned start on Oct. 25, 2027. The rules will cover qualifying stablecoin issuance, trading platforms, custody, dealing, arranging transactions and staking, but existing anti-money-laundering registration will not automatically become FCA authorization. The regulatory timetable does not require banks to process payments for exchanges or their customers. Barclays and HSBC apply £2,500 per-payment limits and monthly or rolling-period caps, while Chase UK blocks identified cryptoasset payments and Metro Bank has not processed outbound payments to known exchanges since November 2024. Research cited by The Block estimated that about 40% of attempted UK bank-to-exchange payments are blocked or delayed. The restrictions have added to uncertainty around crypto markets, with prediction-market pricing placing the probability of XRP reaching a new all-time high at 1.0% by Sept. 30, 2026, and 7.3% by Dec. 31, 2026. HM Treasury has said banking decisions remain largely commercial, while stating that FCA-licensed crypto firms should not be restricted solely because they operate in the sector. Parliament is separately examining crypto firms’ access to banking services and retail payment restrictions.