UK Parliament launches inquiry into crypto banking access

A parliamentary inquiry into banking access for cryptocurrency businesses was launched on July 21, 2026, by the UK's Crypto and Digital Assets All-Party Parliamentary Group (APPG). The cross-party group, co-chaired by Lord Ed Vaizey and Labour MP Gurinder Singh Josan, will examine claims that crypto firms face significant barriers in opening and maintaining bank accounts and that banks are restricting crypto-related payments and transfers.

The inquiry will gather written evidence from banks, payment providers, fintech firms, and crypto businesses over a six-week period ending August 31. Its stated goal is to assess whether these banking restrictions are proportionate and to understand their impact on investment, competition, innovation, and the UK's broader economic growth. The group plans to publish a report with recommendations for the government and regulators.

This parliamentary scrutiny follows years of industry complaints about "debanking." The APPG stated it has received consistent reports from crypto businesses about difficulties accessing fundamental banking services. A January 2026 survey by the UK Cryptoasset Business Council (UKCBC), cited by the inquiry, found that...