The British Parliament has taken on banking barriers for crypto companies: a new investigation
British lawmakers are moving from words to action. The All-Party Parliamentary Group (APPG) on Digital Assets has launched a major investigation aimed at examining systemic barriers to cryptocurrency companies' access to banking services in the United Kingdom. This is not just another survey—it is a signal that the problem of "de-risking" in the crypto sector has reached a level requiring intervention by the highest state bodies.
The investigation focuses on specific practical barriers faced by market players. The group's analysts intend to verify how justified account opening rejections are, as well as to examine cases of unjustified restrictions or blocking of transfers by banks and payment providers. According to my data, many crypto firms complain about a discriminatory approach, where regulatory risks are interpreted too broadly and real business models are not analyzed.
The key stage is evidence collection. Banks, payment services, and representatives of the crypto industry must submit their materials by August 31. This is a deadline that sets strict timeframes for the entire ecosystem. Based on the analysis, the APPG will form a package of recommendations, which will likely be directed both to the Financial Conduct Authority (FCA) and directly to the Treasury.
My analysis: This investigation is a logical continuation of the UK's policy to become a global hub for crypto innovation. However, without solving the banking problem, all progress will remain on paper. If the APPG's recommendations are strict, we may see real pressure on banks from the regulator. Otherwise, crypto companies will continue to seek refuge in jurisdictions with more friendly banking infrastructure, such as the UAE or Singapore.