Operation Choke Point 3.0: UK banks under pressure for blocking crypto transactions - Cryptopolitan

Crypto Insight Summary: * Stand With Crypto UK launched a campaign urging members to file formal complaints against British banks that block or cap transfers to crypto exchanges. * Data from the UK Cryptoassets Business Council shows banks reject or delay about 40% of domestic crypto transactions. * The dispute is similar to the US “Operation Choke Point 2.0” debanking controversy, though in Britain the restrictions appear to originate with the banks themselves. **The Coinbase-backed advocacy group Stand With Crypto UK has instructed its 286,000 members to file formal complaints with their banks over blanket restrictions on payments to cryptocurrency exchanges.** Banks in the UK are restricting or outright denying service to cryptocurrency exchanges and users, despite building internal digital asset teams, leading to questions about the intent of their actions. The UK Cryptoassets Business Council (UKCBC) recently reported that British banks currently block or delay nearly 40% of all domestic cryptocurrency transactions. The number of UK adults currently holding crypto assets has doubled to 8% since four years ago. Under the Payment Services Regulations 2017, banks must execute payments that meet account conditions. Despite this, data from the “Locked Out” report published in January 2026 shows that eight out of ten crypto platforms said the number of rejected bank transfers had increased over the prior 12 months. One exchange reported banks had turned away up to 1 million pounds in customer transactions in a single year. [Stand With Crypto’s manifesto](https://x.com/StandWCrypto_UK/status/2064648605517099130) notes that eight out of ten high street banks maintain blanket bans or limits on transfers to crypto asset exchanges, even those authorized by the Financial Conduct Authority. Crypto Insight Analysis: Direction: Bullish BTC / ETH / Platform Coins Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Regulatory pressure on banks to allow crypto transactions may boost adoption and liquidity.