UK Lawmakers Pressure Banks to Ease Crypto Restrictions Ahead of New Regulatory Regime
U.K. lawmakers are intensifying scrutiny of major banks over their treatment of crypto and digital asset companies. Questioning whether existing account restrictions and transaction limits should remain once firms become formally regulated.
On Aug. 11, leaders of the Crypto and Digital Assets All-Party Parliamentary Group (APPG) wrote to major banks asking them to explain whether they provide services to crypto businesses, what restrictions they impose, and whether their policies will change under the U.K.’s incoming crypto framework. Lawmakers argue that FCA-authorized crypto firms should be assessed according to their individual risk profiles rather than automatically restricted because they operate in the digital asset sector.
The intervention follows an APPG inquiry launched in July after reports that banks blocked or delayed roughly 40% of crypto-related transfers, raising concerns that limited banking access could undermine Britain’s ambition to become a competitive global digital asset hub. The inquiry, covering exchanges, custodians, stablecoin issuers, payment companies and tokenization businesses, will accept evidence until Aug. 31, with its findings expected to influence recommendations for the U.K.’s forthcoming regulatory regime.
Clever Robot News Desk 13th July 2026
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