UK's Top 10 Retail Banks Block or Limit Crypto Payments

Nine of the UK's top 10 retail banks are currently blocking or imposing limits on cryptocurrency-related payments, according to Ublockchain. The report states that even after the comprehensive cryptocurrency regulatory framework is implemented in October 2027, banks have no obligation to lift these measures. Despite the UK government's push to establish a global digital asset hub and ongoing pressure on the banking sector, nine of the top 10 banks continue to block or limit crypto-related payments. The Financial Conduct Authority (FCA) expects financial institutions to voluntarily phase out full bans as new regulatory measures are introduced, though it confirmed that banks will not be legally required to process cryptocurrency transactions.