UK Banks Hit With 10,000 Complaints in 3 Months Over Crypto Purchase Restrictions

Britain's biggest banks are facing a wave of customer anger after blocking or limiting cryptocurrency purchases, with nearly 10,000 complaints filed in just three months. The surge in grievances highlights a growing clash between the U.K.'s ambition to become a global crypto hub and the risk-averse stance of its high-street lenders. Major institutions such as Barclays, HSBC, and NatWest have imposed restrictions on transfers to crypto exchanges, citing concerns over fraud, scams, and regulatory uncertainty. Customers, however, argue the measures are heavy-handed and inconsistent, leaving them unable to access a legitimate asset class. The complaints, logged with the Financial Ombudsman Service, could pressure banks to justify their policies or risk regulatory intervention. As the government pushes forward with plans to regulate crypto and attract digital asset businesses, the banking sector's resistance may undermine the U.K.'s competitive edge. With thousands of cases pending, the outcome could shape how traditional finance and digital currencies coexist in one of the world's leading financial centers.