UK Lawmakers Probe Banks’ Crypto Access Curbs

Britain’s Crypto and Digital Assets All-Party Parliamentary Group is examining whether banks’ de-risking policies are denying legitimate digital-asset companies access to accounts, payments and insurance. The issue threatens the UK’s ambition to become a global crypto hub. Research published by the UK Cryptoasset Business Council in January estimated that banks blocked or delayed 40% of attempted transfers to crypto exchanges, while 70% of surveyed exchanges said restrictions had affected investment, expansion or hiring plans.

The APPG opened the inquiry on July 21, 2026, led by Lord Ed Vaizey and Labour lawmaker Gurinder Singh Josan. It is seeking written evidence from banks, payments providers, fintech companies, insurers and crypto businesses on account refusals, payment blocks, transfer limits and compliance checks. Submissions close on Aug. 31, with a final report expected to recommend measures for government, regulators and banks before Britain’s new crypto regulatory regime is scheduled to become mandatory in October 2027.

Britain’s Crypto and Digital Assets All-Party Parliamentary Group has long heard complaints that legitimate digital-asset businesses cannot open or retain bank accounts, while customers face payment blocks and transfer caps. The issue matters because firms need banking rails to pay staff, suppliers and clients, and because restricted access could undercut both the UK’s digital-asset ambitions and its new regulatory framework. A January 2026 UK Cryptoasset Business Council study found about 40% of transfers to exchanges were blocked or delayed; one platform reported nearly £1 billion of rejected transactions in 2025.

On Aug. 11, 2026, the APPG wrote to chief executives of major UK banks with six questions covering account availability, refusal and closure criteria, customer transaction limits, risk assessments and the treatment of FCA-registered firms. It also asked how policies would change once the Financial Conduct Authority’s new authorization regime takes effect. The letters extend a six-week inquiry launched on July 21, with written evidence due by Aug. 31. The FCA application gateway opens Sept. 30, 2026, and the mandatory regime starts Oct. 25, 2027.