UK Lawmakers Press Banks on Crypto Account Access

UK lawmakers are pressing major banks to explain their treatment of cryptocurrency firms, warning that restricted access to banking services could become a significant barrier to the growth of the country's digital asset sector and undermine its new regulatory framework. The inquiry comes as the UK prepares to implement a comprehensive crypto regime set to take effect in 2027.

The Crypto and Digital Assets All-Party Parliamentary Group (APPG) sent letters on Tuesday, August 11, 2026, to the chief executives of all major UK banks. The letters were signed by the APPG's co-chairs, Labour MP Gurinder Singh Josan and Conservative peer Lord Vaizey of Didcot. The lawmakers stated they have heard of "repeated instances where crypto and digital asset firms have struggled to open accounts with UK banks" and reports of restrictions on related payments.

The letter poses six specific questions to each bank, asking for their current policy toward crypto businesses, whether they currently serve such firms, what limits they place on crypto-related transactions, and what factors drive those decisions. Crucially, it asks whether the upcoming Financial Conduct Authority (FCA) authorization regime...