40% of UK Crypto Investors Hit by Bank Blocks, Sparking Criticism Amid Global Digital Asset Race

- 40% of UK crypto investors have faced payment blocks or delays from banks. - Bank restrictions raise concerns about the UK falling behind in the crypto industry. A new survey by IG Group reveals a significant challenge for UK cryptocurrency investors, finding that 40% encounter payment blocks or delays from their banks. This amplifies concerns that the nation is lagging in the global digital asset landscape. According to a Cointelegraph report on August 20, 2025, the IG Group survey of 500 investors showed that many encountered blocked or delayed payments when transacting with crypto exchanges. In response, 29% of those affected filed complaints with their banks, while 35% switched to alternative lenders. Public opinion on the issue is divided, as a broader survey of 2,000 adults showed that 42% oppose these banking interventions, while 33% support them. In the report, Michael Healy, UK managing director at IG Group, described these obstacles as “at best anti-consumer, at worst anti-competitive.” His remarks underscore investor frustration and intensify criticism of the UK’s approach to fostering digital asset innovation. Banks like Chase UK and NatWest have implemented restrictions or outright blocks on payments to crypto exchanges, citing fraud prevention as a key concern. Meanwhile, the Financial Conduct Authority (FCA) has previously imposed strict measures, such as banning retail customers from using credit for crypto purchases. The concern was echoed by former Chancellor of the Exchequer George Osborne, who recently warned that the UK risks "falling behind in the crypto race." He condemned the government's slow progress on crypto-related initiatives, including stablecoins, believing this could undermine the nation’s position in global financial services. Osborne’s remarks reflect broader industry concerns about how the UK’s regulatory and banking environment impacts crypto adoption. Despite these challenges, the regulatory landscape has seen some advancements. For instance, the FCA recently reversed its ban on retail trading of crypto exchange-traded notes (ETNs), a move that signals an incremental balancing act between oversight and innovation in the sector. Even as UK-based participants face significant hurdles, market data from CoinMarketCap showed ongoing interest in digital assets. As of 12:00 UTC on August 20, Bitcoin (BTC) was trading at $29,743, with a 1.7% increase in 24-hour trading volume, while Ethereum (ETH) was trading at $1,860, with a 1.2% increase in 24-hour volume.