Wu Blockchain reported that 9 out of 10 major UK retail banks are currently blocking or imposing limits on cryptocurrency-related payments. It explained that banks are not obliged to lift these measures even after the UK's comprehensive cryptocurrency regulatory framework comes into effect in October 2027. Despite the UK government's goal of building a global digital asset hub and ongoing pressure on the banking sector, 9 out of the 10 major banks currently block or limit cryptocurrency-related payments. The Financial Conduct Authority (FCA) expects financial institutions to voluntarily phase out outright bans once new regulatory measures are introduced. However, it confirmed that banks would not be legally compelled to process cryptocurrency transactions. Accordingly, whether related transactions are allowed will be determined by each bank's policy.
