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UK Banks Face 10,000 Crypto Purchase Complaints
The U.K. faces criticism for receiving over 10,000 complaints from consumers about banking restrictions on crypto purchases over a three-month period. Advocacy group Stand With Crypto (SWC) reported that more than 10,092 complaints were submitted by 9,800 individuals, covering all 650 parliamentary constituencies. The complaints highlight a potential contradiction in the U.K.'s approach to digital assets, as the government and Financial Conduct Authority (FCA) prepare a regulatory regime to attract crypto businesses, while banking restrictions prevent consumers from accessing even regulated venues.