UK banks face 10,000 complaints in 3 months over crypto restrictions
The U.K. claims to aspire to become a global cryptocurrency hub, an ambition that would appear to be at odds with the attitude to crypto purchases of its major banks.
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Summary
- More than 10,000 complaints about bank restrictions on cryptocurrency transactions were submitted across the U.K. during a 90-day period, according to the advocacy group Stand With Crypto.
- Lloyds Banking Group received the most complaints, followed by Barclays and NatWest, though the voluntary data was not adjusted for each bank’s market share and does not represent all customers.
- Stand With Crypto said banks’ blanket bans, rigid limits and unclear policies could impede access to regulated exchanges and undermine Britain’s ambition to become a global cryptocurrency hub.
