UK Banks Impose Restrictions on Crypto Transfers, Report Finds

A recent report highlights that approximately 40% of transfers from major UK banks to cryptocurrency exchanges are either blocked or delayed. According to NS3.AI, eight out of ten leading UK centralized exchanges have faced heightened restrictions over the past year. The UK Crypto-Business Council has criticized banks for leveraging regulatory compliance as a means to curb crypto financial activities, viewing these actions as obstacles to the growth of the industry.