A survey report revealed that only 47% of UK banks do not have a policy to allow customers to participate in cryptocurrency exchanges, with most citing security concerns.

The survey incorporated feedback from 17 of the UK’s major banks, building societies and banking apps. Seven of these banks do not allow transfers or debit/credit card purchases involving cryptocurrency exchanges.

The survey concluded that only four banks could be considered crypto-friendly. This category includes purely digital banks or banking apps, including Starling, Monzo and Revolut.