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UK group says 40% of bitcoin bank transfers are blocked or delayed
Bitcoin Policy UK says blanket banking restrictions have not improved over the past three years, and it argues banks are treating bitcoin like other token types as the UK moves toward a 2027 cryptoasset regime.
Bitcoin Policy UK says British banks are still blocking or delaying a large share of bitcoin-related payments, calling out what it describes as blanket restrictions on “lawful bitcoin activity.” The group told a UK parliamentary inquiry that about 40% of bank-to-exchange transfers in the UK are currently blocked or delayed.
Bitcoin Magazine reports that Bitcoin Policy UK submitted evidence to the Crypto and Digital Assets All-Party Parliamentary Group inquiry into banking access, arguing that the problem has not improved despite the organization raising the issue nearly three years ago.
The group says UK policy treats “crypto” as one category, leaving bitcoin caught under rules written for unbacked tokens and issuer-dependent stablecoins. It also points to a government position since 2023 that banks should assess cases by case, rather than restrict by sector.
Bitcoin Magazine adds that Bitcoin Policy UK cited a January 2025 survey by Startup Coalition, the UK Cryptoasset Business Council, and Global Digital Finance, which found half of UK fintech and crypto firms surveyed had been refused a bank account or had one closed, and only 14% had opened and kept an account with one of the country’s nine largest banks. The group says it believes the gap is widening as the UK moves toward full implementation of its cryptoasset regime in 2027.
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