UK Lawmakers Investigate Crypto Banking Barriers

A group of UK Members of Parliament and peers launched an inquiry into why crypto and digital asset businesses face difficulties accessing banking services in the United Kingdom. The Crypto and Digital Assets All-Party Parliamentary Group (APPG) will examine account access, payment restrictions, and whether these barriers impede the UK’s goal to become a global leader in digital assets.

This inquiry follows research indicating UK banks blocked or delayed roughly 40% of transfers to crypto exchanges. The APPG intends to assess if banking measures are proportionate and how they impact consumers, competition, and innovation within the crypto sector.

The lawmakers will also study how other nations, including the United States, Hong Kong, and Australia, have addressed similar issues. The APPG will publish a report with recommendations for the government before the UK’s new crypto regulations take full effect in October 2027.