UK Parliamentary Group Launches Inquiry Into Crypto Banking Access and Payment Restrictions

Highlights:

• UK lawmakers are investigating banking problems that make it harder for crypto firms and customers to operate.
• The review will examine account closures, payment limits and access to important financial services for crypto businesses.
• Banks, crypto companies and other groups can submit evidence until August 31 before the APPG publishes recommendations.

The UK’s Crypto and Digital Assets All-Party Parliamentary Group (APPG) has launched an inquiry into banking access for crypto businesses and consumers. The review will examine difficulties in opening or keeping business bank accounts, along with restrictions on crypto-related payments. CryptoUK, which serves as the group’s secretariat, announced the inquiry on July 21.

The APPG brings together MPs and members of the House of Lords to examine crypto policy and engage with the government, regulators and industry. The group said crypto and digital asset firms have raised concerns about banking access for many years. As the UK prepares to implement a new crypto regulatory regime, the inquiry will assess whether legitimate firms still face unnecessary barriers.

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.

The APPG is Westminster's leading cross-party group on crypto and digital assets, co-chaired by Lord Vaizey of Didcot… pic.twitter.com/uk3x7caV3Z

— Crypto & Digital Assets APPG (@cryptoappg) July 21, 2026

UK Crypto Firms Face Bank Account Access Problems

The inquiry will first focus on access to bank accounts and related financial services. Some crypto businesses have struggled to open or retain business accounts. Others have reported difficulties in accessing payment processing, merchant services and professional services such as insurance.

Without these services, firms may find it difficult to receive customer funds, pay employees and suppliers, or invest in further growth. Therefore, the APPG wants to measure the scale of the problem and understand its main causes. The review will consider legal, regulatory, commercial and operational factors.

The group will also assess how limited banking access affects innovation, investment, competition and economic growth. Moreover, it will examine whether these barriers could weaken the UK’s goal of becoming a global leader in crypto and digital assets.

Banks’ Crypto Payment Restrictions Come Under Review

The second part of the inquiry will examine restrictions placed on crypto-related transactions. According to the original announcement, some UK banks have blocked payments to certain crypto firms or introduced transfer limits.

The APPG will review how banks apply these controls and whether they are proportionate. It will also study their effects on consumers, businesses, innovation and competition. Meanwhile, the group will consider possible solutions that improve banking access while maintaining safeguards against fraud, scams and financial crime.

In addition, the parliamentary group will compare the UK’s approach with measures used in other countries. The review aims to identify useful lessons and examples of good practice that could help shape future UK policy.

APPG Opens Six-Week Call for Evidence

The APPG has invited banks, payment service providers, crypto companies, fintech firms, regulators, academics, lawyers, trade groups and consumer organisations to submit written evidence. The six-week consultation runs from July 21 to August 31.

Participants can explain how banking restrictions affect crypto businesses and customers, what causes these problems and what changes may help. They can also share examples of how similar issues have been handled in the UK or other countries. After the call for evidence closes, the APPG will review the submissions and publish a report containing its findings and recommendations.

The inquiry comes as the UK prepares to introduce its wider crypto regulatory framework. Crypto2Community previously reported that the FCA has urged crypto firms to prepare early and apply for authorization before the February 2027 deadline.

UK Sets 2027 Deadline For Crypto Firms

The UK's Financial Conduct Authority has published its completed crypto regulatory framework, requiring all crypto firms to obtain FCA authorization by October 25, 2027.

The licensing window opens in September and runs through February 28,… pic.twitter.com/aqaqp0WhqO

— BSCN (@BSCNews) June 30, 2026