EU Regulation Causes Chaos for Euro Transfers to Crypto Exchanges

The European Union's Instant Payments Regulation has caused issues for investors transferring euros to cryptocurrency exchanges. The regulation, which came into effect on October 9, 2025, requires banks to verify the name of the payee against the IBAN before authorising a transfer.

This check is causing problems for crypto exchange accounts, as the name on the account is often different from the exchange's brand name. Trading venues hold client funds separately from their own assets, and the account may be held in the name of a settlement company or payment service provider.

As a result, transfers to crypto exchanges are being rejected or delayed, causing investors to miss out on opportunities. The European Commission has stated that the payee's name must match the IBAN for the payment to be executed.