A cross-party group of UK lawmakers has launched a parliamentary inquiry into the banking problems dogging the country's crypto industry, probing why firms struggle to open accounts and why banks curb crypto-related payments.
The Crypto & Digital Assets APPG has today launched a Parliamentary Inquiry into access to banking services for the UK's crypto and digital assets sector.
"Access to banking services is fundamental for any legitimate business, and where unnecessary barriers exist they have the potential to hinder growth, investment and innovation," Josan and Vaizey said in a joint statement. The added that it was "the right time" to examine whether remaining barriers could undermine the UK's ambitions of becoming a global leader in digital assets, ahead of its crypto regime coming into force.
Crypto and "debanking"The APPG is taking written evidence for six weeks, until August 31, before publishing a report with recommendations to the Government—well ahead of October 2027, when the UK's new crypto regime becomes mandatory.
