Financial and Business News

Coinbase Employees Reportedly Face Wise “Payment Blocks” Amid UK Banking Crackdown

Thursday, 26/02/2026 | 16:35 GMT by Tareq Sikder
  • Employees report payroll issues; neither Wise nor Coinbase has publicly confirmed claims.
  • UK banks increasingly limit crypto-related transfers, citing compliance and fraud risks.
Coinbase (shutterstock)

A LinkedIn post circulating online claims that Wise has begun blocking payroll payments sent by Coinbase to employees holding Wise accounts in the UK. The post states that the action has disrupted employees’ finances and describes it as “anti-competitive.”

It also notes that Coinbase is an authorised electronic money institution under UK law and argues that it should not face payment restrictions.

Finance Magnates has contacted both companies for comment. The claims could not be independently verified. As of publication, Wise has not issued a statement, while Coinbase confirmed that the LinkedIn post can be cited but provided no further comment.

Policy Allows Crypto-Related Restrictions

Wise’s publicly available Acceptable Use Policy states that the company does not allow customers to use its services to buy, sell, or trade cryptocurrencies directly. The policy also notes that the firm may reject or return payments involving crypto businesses, depending on internal compliance and risk assessments.

Wise is authorised by the UK Financial Conduct Authority (FCA) as an electronic money institution. Coinbase’s UK entity is also registered with the FCA under the Money Laundering Regulations.

While Wise’s policy restricts certain crypto-related transactions, it does not explicitly state that salary payments from regulated crypto firms are automatically blocked. Individual decisions may depend on transaction details and internal controls.

Wider UK Banking Friction

The claims come amid broader tensions between crypto firms and UK banks and payment providers. Several banks in the UK have introduced limits or blocks on transfers to crypto exchanges in recent years, citing fraud risks and compliance obligations.

Industry bodies have argued that such measures create operational challenges for regulated firms and undermine the UK’s ambition to become a digital asset hub.

Government officials have previously called for a balanced approach that supports innovation while maintaining financial stability and consumer protection.

A LinkedIn post circulating online claims that Wise has begun blocking payroll payments sent by Coinbase to employees holding Wise accounts in the UK. The post states that the action has disrupted employees’ finances and describes it as “anti-competitive.”

It also notes that Coinbase is an authorised electronic money institution under UK law and argues that it should not face payment restrictions.

Finance Magnates has contacted both companies for comment. The claims could not be independently verified. As of publication, Wise has not issued a statement, while Coinbase confirmed that the LinkedIn post can be cited but provided no further comment.

Policy Allows Crypto-Related Restrictions

Wise’s publicly available Acceptable Use Policy states that the company does not allow customers to use its services to buy, sell, or trade cryptocurrencies directly. The policy also notes that the firm may reject or return payments involving crypto businesses, depending on internal compliance and risk assessments.

Wise is authorised by the UK Financial Conduct Authority (FCA) as an electronic money institution. Coinbase’s UK entity is also registered with the FCA under the Money Laundering Regulations.

While Wise’s policy restricts certain crypto-related transactions, it does not explicitly state that salary payments from regulated crypto firms are automatically blocked. Individual decisions may depend on transaction details and internal controls.

Wider UK Banking Friction

The claims come amid broader tensions between crypto firms and UK banks and payment providers. Several banks in the UK have introduced limits or blocks on transfers to crypto exchanges in recent years, citing fraud risks and compliance obligations.

Industry bodies have argued that such measures create operational challenges for regulated firms and undermine the UK’s ambition to become a digital asset hub.

Government officials have previously called for a balanced approach that supports innovation while maintaining financial stability and consumer protection.

Topics
fintech
Wise (TransferWise)
coinbase
coinbase uk
crypto
About the Author: Tareq Sikder
Tareq Sikder
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A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

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