A cross-party group of UK parliamentarians has begun an inquiry into barriers crypto firms face in accessing bank accounts and making transactions. The effort focuses on whether bank restrictions are proportionate and affect investment and growth.
The UK's Crypto and Digital Assets All-Party Parliamentary Group launched the inquiry on Tuesday. It is examining cases where banks have refused accounts to crypto businesses or imposed limits on crypto-related payments.
Chairs Ed Vaizey, a former minister and member of the House of Lords, and Labour MP Gurinder Singh Josan are leading the work. The group said it has received consistent reports of difficulties for crypto and digital asset firms.
The APPG opened a six-week call for written evidence from banking, payments, fintech and crypto sectors. It plans to publish findings and recommendations for the government afterward.
The inquiry will review the impact of restrictions on consumers, businesses, innovation and competition.
