Stand With Crypto UK Launches Campaign Against Bank Crypto Limits

Crypto Insight Summary: Stand With Crypto UK says banks are restricting access to regulated exchanges even as policymakers seek to position the country as a hub for digital asset innovation. Stand With Crypto UK is urging its 286,000 members to challenge British banks restricting transfers to cryptocurrency exchanges, arguing that blanket limits on transactions to regulated platforms are restricting access to digital assets. The new campaign cites a report from the UK Cryptoassets Business Council that found 40% of crypto transactions are blocked or restricted by UK banks. The group argues that many of the restrictions apply to transfers involving exchanges registered with the country's Financial Conduct Authority and do not account for individual customer risk profiles. According to the report, one exchange recorded nearly 1 billion British pounds in declined transactions over a one-year period due to bank-side rejections, while 80% of surveyed platforms reported an increase in blocked or restricted transfers. Stand With Crypto said members can submit complaints through a tool on its website that generates letters challenging transfer restrictions, with responses from banks expected to inform the campaign's next steps. 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. “Interventions should be targeted and proportionate, as broad blocks risk undermining competition and the ability of regulated firms to operate effectively in the UK,” Fairless said. _**Related:**_[_**EU proposes ban on 11 crypto platforms in Russia sanctions push**_](https://cointelegraph.com/news/eu-russia-sanctions-11-crypto-platforms) The campaign comes amid ongoing efforts by regulators to develop a UK-wide framework for stablecoins. Later that month, the Bank of England said it was [reconsidering proposed caps](https://cointelegraph.com/news/boe-signals-softer-uk-stablecoin-regime-after-industry-backlash) on stablecoin holdings and reserve requirements as it reviewed its framework for pound-denominated stablecoins. Crypto Insight Analysis: Direction: Bullish BTC / ETH / BNB Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: UK campaign against bank restrictions could improve liquidity and access, benefiting major cryptocurrencies.