A survey by IG Group found that 40% of UK crypto investors faced blocked or delayed payments to crypto providers by their banks. 29% complained to their banks, and 35% switched lenders. 42% of the broader sample opposed banks intervening in crypto transactions. FCA has restricted retail customers from using borrowed money for crypto.

George Osborne, former Chancellor of the Exchequer, warned that the UK is falling behind in the global crypto race. He criticized the lack of progress on stablecoins, noting that pound-denominated stablecoins have minimal circulation. However, the FCA recently lifted its ban on retail trading of crypto ETNs, showing maturity in the sector.

Read more at Cointelegraph: UK Banks Tighten Grip on Crypto Payments as Investors Struggle to Fund Accounts