A cross-party parliamentary group seeks evidence on banks refusing accounts or imposing limits on crypto-related transactions.
The UK’s Crypto and Digital Assets All-Party Parliamentary Group (APPG) has opened a six-week inquiry into banking restrictions faced by crypto businesses. The probe will examine banks refusing accounts or imposing transaction limits on crypto firms and related services like insurance.
The APPG, chaired by former Digital Economy Minister Lord Vaizey and Labour MP Gurinder Singh Josan, will gather written evidence from banking, payments, fintech, and crypto sectors. A report with findings and recommendations for the UK government will follow.
Major UK banks have previously imposed restrictions on crypto payments, mirroring broader global challenges for the sector. The inquiry aims to assess the scale of debanking and its impact on crypto firms operating in the UK.