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A UK crypto advocacy group opposes bank restrictions on exchange transfers, claiming they hinder industry adoption

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ME News Report, June 11 (UTC+8), Stand With Crypto UK branch launched an action, calling for banks to lift restrictions on transfers to cryptocurrency exchanges, arguing that such practices conflict with the UK’s goal of building a global digital asset hub. The organization states that approximately 40% of banks in the UK block or delay transactions to crypto exchanges, and 80% of exchanges report a significant increase in customer transaction resistance over the past year. Some exchanges have even experienced nearly £1 billion in transaction cancellations within a year due to banks refusing to process transfers. Stand With Crypto UK plans to mobilize over 286k registered crypto advocates in the UK to submit formal complaints to their banks. The organization states that users should not be prevented from accessing legitimate asset classes due to banks' "one-size-fits-all" restrictions on the entire industry. (Source: ODAILY)
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