Wise Reportedly Blocks Some Coinbase Payroll Payments in UK Amid Ongoing Crypto Banking Tensions

Reports circulating on LinkedIn claim that payroll payments sent by cryptocurrency exchange Coinbase to certain employees holding Wise accounts in the United Kingdom have been blocked, raising fresh questions about banking access for crypto-related businesses.

According to the post, the alleged action disrupted employees’ personal finances and was described as “anti-competitive.” The post also argued that Coinbase, as an authorised electronic money institution under UK law, should not face payment restrictions. The claims, however, have not been independently verified.

Wise’s publicly available Acceptable Use Policy indicates that customers are not permitted to use its services to directly buy, sell, or trade cryptocurrencies. The policy also states that the company may reject or return payments connected to crypto businesses based on internal compliance reviews and risk assessments.

Both firms operate under UK regulatory oversight. Wise is authorised by the Financial Conduct Authority (FCA) as an electronic money institution, while Coinbase’s UK entity is registered with the FCA under the Money Laundering Regulations.

Although Wise’s policy outlines restrictions related to crypto transactions, it does not explicitly state that salary payments originating from regulated crypto companies are automatically blocked. Decisions may instead depend on transaction details and internal compliance controls.

The reported incident comes amid broader friction between cryptocurrency firms and UK financial institutions. In recent years, several UK banks and payment providers have introduced limits or blocks on transfers involving crypto exchanges, often citing fraud prevention and regulatory compliance concerns.

Industry groups have argued that such measures create operational challenges for regulated digital asset companies and may conflict with the UK government’s ambition to position the country as a global hub for digital assets. Officials have previously called for a balanced regulatory approach that encourages innovation while safeguarding financial stability and consumer protection.