A parliamentary group demands explanations from lenders on denying banking services to digital asset businesses in the UK.
The UK’s Crypto and Digital Assets All-Party Parliamentary Group has requested banks clarify their policies on servicing crypto firms. Lawmakers seek details on why many lenders restrict or refuse accounts for digital asset businesses, citing concerns over regulatory uncertainty and risk management practices.
The inquiry follows complaints from crypto companies about limited access to banking, which hampers operations and growth. Similar issues have surfaced in other jurisdictions, including the US and EU, where banks cite compliance risks as a key factor in their decisions.
No immediate market reaction was reported, but the probe could pressure banks to reassess their stance on crypto-related clients.