PANews reported on June 11 that, according to The Block, the UK-based crypto advocacy group Stand With Crypto has launched a campaign calling on banks to lift restrictions on transfers to crypto exchanges. The organization cited a report stating that approximately 40% of UK bank crypto transactions are blocked or delayed, 80% of exchanges report a significant increase in customer friction, and one exchange alone saw nearly $1.3 billion in canceled transactions due to bank refusals in just one year.

Stand With Crypto UK has mobilized over 286,000 registered advocates to complain to banks, alleging that they are imposing blanket restrictions on compliant exchanges, including those already registered with the FCA. The organization's director stated that consumers should be treated as individuals, not subjected to a one-size-fits-all policy. Katie Harries, Head of European Policy at Coinbase, said that while the government has set a vision to make the UK a global hub for digital assets and Web3, banks are "killing" a crucial gateway from fiat currency to cryptocurrency.