The group submitted evidence to a parliamentary inquiry into access to banking services
Bitcoin Policy UK said it had submitted evidence to the Crypto and Digital Assets APPG inquiry into access to banking services. According to the group, around 40% of bank transfers to exchanges in the United Kingdom are blocked or delayed.
The organisation says there have been no improvements over the past three years. Since 2023, the UK government has said banks should assess cases individually rather than apply sector-wide restrictions, but Bitcoin Policy UK says this practice has not been adopted.
According to Bitcoin Policy UK, Virgin Money, Metro Bank, Starling Bank, TSB and Chase UK block transfers and card payments to exchanges. Barclays and HSBC, also according to the group, limit transfers to £2,500 per transaction.
The group calls for a regulatory statement against blanket restrictions on Bitcoin-related activity through FCA-registered exchanges, specific reasons for refusals, an appeals channel and regular assessments of restriction levels.
