Wu Blockchain (@WuBlockchain): 9 of Top 10 UK Retail Banks Block or Limit Crypto Transactions
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9 of Top 10 UK Retail Banks Block or Limit Crypto Transactions UK retail banks will not be forced to lift blanket restrictions on payments routed to cryptocurrency exchanges even after the Financial Conduct Authority’s (FCA) comprehensive crypto regulatory regime takes effect in October 2027. Despite the UK government's stated ambitions to establish a global digital asset hub and ongoing pressure on lenders, nine out of the top ten UK retail banks currently block or cap crypto-related payments. While the FCA expressed hope that upcoming regulatory safeguards will encourage institutions to voluntarily phase out blanket prohibitions, the regulator confirmed it will not legally compel banks to process crypto transactions, leaving risk appetites entirely at their discretion.