UK Banks Received 10,000 Complaints Over Blocked Crypto Transfers in 90 Days

WHY IT MATTERS

When you deposit money in a bank, you generally expect to be able to send it wherever you want. But in the UK, many banks have started blocking or limiting transfers to cryptocurrency platforms, similar to a store refusing to accept certain forms of payment. For people new to crypto, this matters because even if buying cryptocurrency is legal, your bank might still prevent you from moving your own money to a crypto exchange. The large number of complaints shows that many people are frustrated by these restrictions, and it raises questions about how much control banks should have over where customers send their funds.