UK parliamentary group probes banking barriers for crypto firms
A UK parliamentary group has launched an inquiry into whether crypto companies and consumers face unfair barriers to banking, including account access and limits on crypto-related payments. The Crypto and Digital Assets All-Party Parliamentary Group will examine how these restrictions affect investment, competition, and economic growth, and whether they are proportionate. Banks, payment providers, crypto firms, and other stakeholders can submit evidence until Aug. 31, after which the group will publish findings and recommendations. The inquiry follows a January survey from the UK Cryptoasset Business Council showing significant transaction blocking or delays and a reported chilling effect on UK investment and hiring. It also comes before the Financial Conduct Authority begins accepting authorization applications from crypto firms on Sept. 30.
