A new UK Cryptoasset Business Council report found that almost all major banks are imposing blanket limits or blocks on transfers to crypto exchanges, effectively debanking crypto users. A new survey by the UK Cryptoasset Business Council (UKCBC) found that transfers between United Kingdom bank accounts and crypto exchanges are frequently blocked, delayed or refused, even when customers are trying to use regulated platforms. The survey, titled Locked Out: Debanking the UK’s Digital Asset Economy, draws on responses from 10 of the UK’s largest centralized exchanges, which collectively serve millions of UK consumers and have processed hundreds of billions of pounds in transactions. It aims to replace anecdotes with hard numbers on how current banking practices affect the sector. The UKCBC argues that widespread restrictions are a major obstacle to growth and are already undermining the UK’s ambitions to be a leading hub for digital assets. Read more
With Boomers controlling more than half of US household wealth, the coming generational transfer may funnel a portion of this capital into crypto markets, a new OKX survey shows. Younger Americans are growing more confident in crypto, while older generations remain firmly aligned with traditional finance, according to a new survey published as part of the OKX Insights series. The survey, which polled 1,000 Americans in January, found a sharp generational divide in trust, outlook and expectations for digital assets. The younger the respondent, the more likely they were to view crypto as both credible today and central to finance tomorrow. When asked how much they trust crypto platforms, 40% of Gen Z (aged 12–29) and 41% of Millennials (aged 29–45) gave high confidence scores, rating their trust at seven or above on a 10-point scale. Among Baby Boomers (aged between their late 50s and late 70s), just 9% did the same, making younger generations almost five times more trusting than their older counterparts. Read ...
Survey data points to cautious allocations, long-term holding and a preference for regulated platforms as Singapore’s retail market continues to mature. Singapore’s retail crypto market is entering a new phase of maturity, as traders are increasingly prioritizing trustworthy platforms over those with lower fees, according to a new survey. On Thursday, a joint survey by finance platform MoneyHero and crypto exchange Coinbase revealed that 61% of “finance-savvy” investors in Singapore now hold crypto, with trust emerging as their primary deciding factor for selecting exchanges, outranking fees. The data suggests that the city-state’s crypto ecosystem is evolving beyond chasing the cheapest exchange to placing value on regulated frameworks, security and long-term conviction. Read more