UK Finance terminates Coinbase membership following criteria review

UK Finance, a trade association representing approximately 300 financial services institutions, has terminated Coinbase’s membership following a review of its membership criteria. The organization’s board reportedly informed the cryptocurrency exchange of the decision via a letter sent last week, concluding that crypto exchanges do not meet the group’s established framework.

While Coinbase retains the right to appeal the decision, the move does not impact the company’s regulatory standing or its licenses issued by the Financial Conduct Authority (FCA). Coinbase continues its operations in the United Kingdom, having recently expanded its services to include stock and derivatives trading for retail clients.

The exclusion comes amid ongoing tensions between traditional banking institutions and the crypto industry. Reports from the UK Cryptoasset Business Council suggest that many banks have previously restricted or delayed payments to crypto platforms, highlighting a friction point between established financial services and digital asset providers.