UK Finance ends Coinbase membership amid bank-crypto conflict

UK Finance ended Coinbase's membership after reviewing its eligibility framework. The board sent the US crypto exchange a termination letter last week. Coinbase can appeal the decision. People with knowledge of the matter provided information about the decision. UK Finance represents around 300 banking and finance firms. UK Finance is a membership organization for the banking and finance industry. The decision does not affect Coinbase's licences from the Financial Conduct Authority. Coinbase's UK operations continue as normal. In July, the Financial Conduct Authority granted Coinbase an investment licence covering stocks and derivatives. The approval allowed UK retail users to trade shares on Coinbase's app for the first time. Coinbase said it is building one platform for users' entire financial lives. Rival Robinhood received a narrower UK crypto approval in August. In January, the UK Cryptoasset Business Council said banks were blocking or delaying about 40% of payments to crypto platforms. The council's survey covered 10 exchanges. Seventy percent of those exchanges said UK banks had become more hostile over the previous year. The Bank of England plans to keep a cap on stablecoin issuance. The Bank of England dropped limits on how much individuals can hold. In the US, JPMorgan CEO Jamie Dimon has pledged to fight the CLARITY Act crypto bill. The bill would set rules for digital asset markets. Britain's full crypto regime takes effect in October 2027, according to Coinbase.