A significant number of cryptocurrency investors in the UK are experiencing difficulties funding their accounts due to blocked or delayed payments from banks. A survey conducted by IG Group found that 40% of the 500 UK crypto users reported such issues, prompting 29% of them to file complaints with their banks and 35% to switch banks. The situation raises concerns about the UK's competitiveness in the global digital asset market, with many users feeling excluded from crypto investments due to their bank's policies. High-street banks, including NatWest, have restricted payments to crypto exchanges citing fraud prevention, which has led to criticism from officials like former Chancellor George Osborne, who claims the UK is falling behind in adopting cryptocurrency and recognizing stablecoins, where pound-denominated options are minimal. Although some progress has been noted, such as the FCA lifting the ban on retail trading of crypto exchange-traded notes, the ongoing banking challenges hinder widespread access to cryptocurrencies for UK investors.

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