A cross-party parliamentary group has launched an inquiry into UK banks’ treatment of crypto firms.
It comes as the UK implements its new crypto regulatory regime and seeks to become a global digital-assets hub.
Labour MP Gurinder Singh Josan and former digital economy minister Lord Vaizey said access to banking is essential for legitimate businesses.
“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,” they said in a joint statement.
The Crypto and Digital Assets All-Party Parliamentary Group (APPG) announced the inquiry on 21 July, saying it will examine whether crypto businesses and consumers can access appropriate banking services.
The review will focus on two areas: access to bank accounts and banking services for crypto and digital-asset businesses, and restrictions imposed by banks on crypto-related transactions.
The APPG said it has heard concerns from firms that they have struggled to open or retain business bank accounts, or obtain payment, merchant and other banking services needed to operate.
It will also investigate reports that some banks have blocked payments to crypto firms or imposed transfer limits on customers seeking to buy digital assets.
According to the group, the inquiry will assess how such measures are applied, whether they are proportionate, and what impact they have on consumers, businesses, innovation and competition.
Written evidence has been requested from banks, payment providers, crypto businesses, regulators, academics, consumer groups and other stakeholders.
Submissions will be accepted until 31 August, after which the APPG will publish a report containing its findings and recommendations.
The inquiry builds on previous APPG work that identified access to banking services as one of the most significant barriers facing the UK’s crypto sector.
Market participants have long argued that banking restrictions create operational challenges for regulated firms. Research cited by the APPG found that around 40% of attempted transfers from UK bank accounts to cryptocurrency exchanges were blocked or delayed, highlighting continuing tensions between traditional financial institutions and the digital-assets industry.
The evidence submission deadline is on 31 August 2026.
