Why Using Cryptocurrency Could Make It Harder to Find a Conveyancer for Your Home Purchase

For many prospective home buyers, cryptocurrency forms an important part of their personal wealth. Some have invested for years, while others have recently realised gains. However, an increasing number of conveyancers are declining to act for clients whose purchase funds derive from crypto assets. If you are planning to buy a home and intend to rely on cryptocurrency in any form, it is important to understand why this issue is becoming so significant and how it may affect the progress of your transaction.

The Growing Reluctance Among Conveyancers

Across England and Wales, more conveyancing firms are turning away clients whose source of funds is linked to cryptocurrency. This trend has accelerated in the wake of heightened regulatory scrutiny and the expanding complexity of Anti-Money Laundering (AML) compliance.

Property transactions are already categorised as high-risk from an AML perspective, and firms must trace the source of every pound used in a purchase. When crypto assets are involved, this task becomes substantially more difficult. Funds may pass through multiple wallets, exchanges, or international platforms, and the audit trail can be fragmented or opaque.

Many firms lack the systems, technology, or risk appetite required to verify crypto-derived funds to a standard that satisfies the regulator. As a result, buyers using crypto may struggle to find a conveyancer willing to take them on.

The SRA’s 5 November 2025 Thematic Review: A Turning Point

On 5 November 2025, the Solicitors Regulation Authority (SRA) published its Thematic Review of Source of Funds and Source of Wealth Compliance. This review has been a catalyst for even greater caution among law firms.

Key findings particularly relevant to clients with crypto assets include:

• Weaknesses in firms’ ability to evidence source of wealth when digital assets formed part of a client’s funds.
• Insufficient documentation: The review highlighted that many firms struggled to obtain adequate evidence to trace the origin and movement of crypto assets through wallets and exchanges.
• Limited technical understanding among legal staff, resulting in failures to identify risks such as mixing, tumbling, or unregulated exchange activity.
• Heightened regulatory exposure: The SRA reiterated that inadequate SOF/SOW checks—especially involving crypto—could lead to enforcement action, mandatory reporting, and significant financial penalties.

The 2025 review makes clear that regulators expect firms to carry out robust, technically informed due diligence. For many practices, the operational burden is too great, meaning they prefer not to act at all where cryptocurrency is involved.

What This Means for Home Buyers

If you intend to use cryptocurrency, whether directly or via conversion to fiat currency (GBP),you may encounter the following challenges:

Difficulty finding a firm willing to take on the transaction

Many firms now have policies explicitly excluding crypto-funded purchases.

Higher evidential requirements

Conveyancers who are willing to act will expect extensive transaction histories, blockchain records, exchange statements, and wallet information.

Enhanced due-diligence processes

Some firms may require blockchain analysis tools or independent reports to demonstrate that funds have not passed through high-risk channels.

Potential delays in your transaction

AML checks involving crypto assets often take significantly longer, which can delay exchange or even jeopardise a purchase if the chain is time-sensitive.

How Buyers Can Prepare

To maximise the likelihood of securing a conveyancer and keeping your transaction on schedule:

• Convert crypto to fiat well ahead of the purchase and keep a clear documentary trail.
• Prepare comprehensive evidence of how you obtained your crypto, including purchase records, exchange logs, and wallet histories.
• Disclose the use of crypto at the earliest opportunity when approaching conveyancers.
• Expect higher compliance fees due to the additional AML workload.
• Seek out conveyancers experienced in crypto-related transactions, as they will have better systems and processes in place.

Cryptocurrency may be a mainstream investment class, but in conveyancing it remains a high-risk funding source. The SRA’s Thematic Review of Source of Funds and Wealth Compliance (5 November 2025) has intensified expectations on law firms, making many unwilling to accept clients whose funds originate from crypto assets.

For buyers, early planning, full transparency, and robust documentation are essential. With the right preparation, it is still possible to navigate the process, but you should be aware of and plan for the potential obstacles long before making an offer on a property.