UK Banks Accused of Delaying Approximately 40% of Payments to Crypto Platforms

Odaily News An industry survey reveals that UK banks are currently blocking or delaying around 40% of payments destined for cryptocurrency trading platforms. 80% of the surveyed exchanges reported a significant increase in customer payment blockages over the past year. The survey covered 10 major centralized exchanges operating in the UK, including Coinbase, Kraken, OKX, Gemini, and Bitpanda. One exchange stated that nearly £1 billion worth of transactions were rejected due to bank-side blocks in the UK alone over the past year. The survey also indicates that 70% of exchanges believe the UK banking environment is becoming "more hostile" and claim that these restrictions are dampening their willingness to invest, expand, and hire in the UK. (The Block)