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Stand With Crypto UK campaign
Stand With Crypto UK, a Coinbase-backed group, launched a nationwide campaign urging its 286,000 members to file formal complaints with British banks over blanket restrictions on crypto transactions.
“Table of Contents A UK crypto advocacy group has launched a public campaign against bank limits on exchange transfers”
The campaign targets what it describes as country-wide bank rules that block or cap customer transfers to exchanges, including those registered with the Financial Conduct Authority, and it says U.K. banks block or delay 40% of domestic crypto transactions.
CoinDesk reports that the group based its campaign on data from the U.K. Cryptoassets Business Council’s "Locked Out" report from January 2026, which surveyed 10 exchanges including Coinbase, Kraken and Gemini.
HM Treasury told CoinDesk that government officials expected banks to treat all businesses fairly, including crypto services providers, saying, “We would not expect such licensed firms to be subject to account or transaction restrictions by banking services providers.”
Banks urged to be risk-based
Cointelegraph quoted ClearBank CEO Mark Fairless arguing that banks should take a risk-based approach to crypto-related payments rather than imposing broad restrictions across the sector.
Fairless said, “Interventions should be targeted and proportionate, as broad blocks risk undermining competition and the ability of regulated firms to operate effectively in the UK,” framing the complaint campaign as a pushback against sector-wide limits.
The advocacy campaign also drew on the UK Cryptoassets Business Council’s "Locked Out" report, which the sources say found 40% of crypto transactions are blocked or restricted by UK banks and that 80% of surveyed platforms reported an increase in blocked or restricted transfers.
CoinDesk also reported that one platform said banks rejected up to 1 million pounds in transactions in a single year, while the group’s complaint drive is designed to challenge transfer restrictions affecting FCA-authorized exchanges.
Stablecoin policy and sanctions
The UK banking dispute is unfolding alongside regulatory work on stablecoins, with a House of Lords committee examining proposed stablecoin regulations in early May and lawmakers questioning bank-run risks and anti-money laundering controls.
“Mark Fairless, CEO of UK clearing bank ClearBank, told Cointelegraph that banks should take a risk-based approach to crypto-related payments rather than imposing broad restrictions across the sector”
Cointelegraph says the Bank of England was reconsidering proposed caps on stablecoin holdings and reserve requirements as it reviewed its framework for pound-denominated stablecoins, and it notes that a House of Lords committee later said certain proposed stablecoin requirements could limit the viability of pound-denominated tokens.
Separately, the EU proposed banning transactions on 11 crypto platforms as part of its 21st sanctions package against Russia, with Kaja Kallas saying, “We will also tighten our ban for crypto-asset services to certain third countries, add new designations, and ban transactions on 11 crypto platforms.”
The EU proposal also followed the United Kingdom’s May 26 sanctions against Huobi Global S.A. behind HTX, and the sources say HTX has denied the allegations while a Global Ledger report later said HTX processed about $21.06 billion in high-risk crypto flows between 2021 and May 2026.
