Nine of top ten UK banks continue to block crypto payments

Despite London's ambition to become a global digital asset hub, nine of the ten largest UK retail banks continue to block or cap payments to crypto exchanges. The Financial Conduct Authority (FCA) has confirmed it will not mandate banks to ease these restrictions, even after the full crypto regulatory regime takes effect on October 25, 2027. Banks cite the high cost of fraud reimbursement as a primary reason for their cautious stance, while Bitcoin ETNs remain excluded from standard tax-advantaged ISA accounts.