Nine out of ten largest British retail banks continue to block or cap transfers to cryptocurrency platforms, with limits ranging from 1,000 to 2,500 pounds per transaction. This persistent situation is largely explained by the obligation to reimburse victims of authorized push payment fraud, introduced in October 2024 with a cap of 85,000 pounds per case. The Financial Conduct Authority has confirmed it will not require banks to loosen these restrictions, even after its full crypto regime takes effect on October 25, 2027. Some 7 million British adults hold crypto assets, representing 12 percent of the country’s adult population. Bitcoin ETNs remain excluded from standard ISAs since April, and transfers to regulated exchanges are capped at 1,000 pounds.
Source: Read the original article
