A parliamentary group demands explanations from major UK lenders blocking or restricting services to crypto businesses.
A UK parliamentary group has requested explanations from major banks regarding their restrictions on services for crypto and digital asset firms. The Crypto and Digital Assets All-Party Parliamentary Group (APPG) sent a letter to CEOs of HSBC, NatWest, Santander UK, Nationwide, and Starling Bank, citing repeated difficulties faced by crypto firms in opening accounts or processing transactions.
The group highlighted that several banks have imposed outright bans or limitations on crypto-related payments, despite the sector’s growth. This follows long-standing challenges for crypto businesses in securing banking relationships, which lawmakers argue could hinder innovation and competitiveness in the UK’s financial sector.
No immediate market reaction was reported, but the inquiry signals increased regulatory attention on banking policies affecting the crypto industry.