Coinbase-backed Stand With Crypto calls on members to campaign against banks blocking digital asset transactions
Key takeaways
- The campaign is a demonstration against country-wide bank rules that block or cap customer transfers to exchanges, including those registered with the Financial Conduct Authority (FCA), the group said in a press release.
- Stand With Crypto based its campaign on data from the U.K.
- The FCA report found that British banks block or delay 40% of all domestic crypto transactions.
The campaign is a demonstration against country-wide bank rules that block or cap customer transfers to exchanges, including those registered with the Financial Conduct Authority (FCA), the group said in a press release. Around 8% of UK adults hold cryptoassets, according to FCA research.
Stand With Crypto based its campaign on data from the U.K. Cryptoassets Business Council’s "Locked Out" report from January 2026. The report surveyed 10 exchanges: Coinbase, Kraken, Uphold, Xapo Bank, Zumo, Wirex, OKX, Luno, Bitpanda and Gemini.
A day after that report went out, a spokesperson for the HM Treasury, the country's economic and finance ministry, told CoinDesk that government officials expected banks to treat all businesses fairly, including crypto services providers. “We would not expect such licensed firms to be subject to account or transaction restrictions by banking services providers,” a spokesperson said.