The UK’s Crypto and Digital Assets All-Party Parliamentary Group (APPG) is investigating banks that have denied accounts to crypto companies or imposed limits on crypto transactions.
By Ian Allison|Edited by Shaurya Malwa Jul 21, 2026, 6:15 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Westminster, home of the UK government (Shutterstock) SummaryShow- The APPG is soliciting written submissions from the banking, payments, fintech, and crypto industries during a six-week period.
- A report detailing findings and recommendations will be released to the UK Government following the inquiry.
UK lawmakers are investigating how banks have restricted access to cryptocurrency firms by denying them accounts and imposing limits on crypto-related transactions, as part of a cross-party inquiry that commenced on Tuesday.
The Crypto and Digital Assets All-Party Parliamentary Group (APPG), led by Lord Vaizey of Didcot, a former UK Government Minister for the Digital Economy, along with Labour MP Gurinder Singh Josan CBE, announced the initiative.
Since the inception of cryptocurrencies, gaining banking relationships has been challenging for industry participants, with a systematic withdrawal of banking services from firms and individuals, particularly noted in the U.S. under what has been termed “Operation Chokepoint 2.0.”
Several prominent UK banks have also placed restrictions on crypto-related payments, according to the APPG's statement. The inquiry will explore the lack of bank accounts available to crypto firms, including necessary services like insurance.
The APPG will also investigate the limits banks have placed on crypto transactions, as there are growing concerns that some UK banks are blocking payments to specific crypto firms or enforcing transfer caps. The inquiry aims to assess how these restrictions are implemented, their fairness, and their effects on consumers, businesses, innovation, and competition, as stated by the APPG.
"Over the years, the APPG has consistently received reports from crypto and digital asset companies about the challenges they face in accessing banking services and the restrictions imposed by banks on crypto transactions,” said APPG co-chair Lord Vaizey of Didcot.
The APPG is calling for written evidence from the banking, payments, fintech, and crypto sectors over a six-week period before it compiles a report outlining its findings and recommendations for the Government.
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