UK Lawmakers Launch Inquiry Into Crypto Banking Access
A cross-party UK parliamentary group has launched an inquiry into why crypto firms struggle to access banking services. It will examine account closures, payment blocks, transfer limits, and restrictions on insurance, and whether banks’ measures are proportionate. The inquiry follows the UK’s recent crypto regulatory framework and will assess whether banking barriers could undermine the government’s aim of making the UK a leader in digital assets. Lawmakers said crypto businesses have long faced debanking by major UK banks, while industry research has found frequent blocked or delayed transfers and harm to investment, hiring, and expansion. HM Treasury has said regulated crypto firms should not be excluded simply for operating in the sector. The inquiry will also compare policy in the US, Hong Kong, Australia, and the EU. Written evidence is open for six weeks, with a report due before the regime becomes mandatory in 2027.
