chaired by Lord Vaizey of Didcot and Gurinder Singh Josan, the APPG will compare international approaches from the US, Hong Kong, Australia, and the EU and is inviting written evidence from banks, payments, fintech, and crypto sectors for six weeks.

The UK Parliament’s cross‑party Crypto and Digital Assets APPG has launched an inquiry into banking access for crypto businesses, aiming to understand how hard it is to open and maintain bank accounts and how crypto‑related transactions are restricted.

Industry experts say regulatory stability under the new administration will influence the UK’s attractiveness to internationally active firms, with ongoing reforms in capital markets, fintech and digital assets, and sustainable finance.

The inquiry will assess the extent and application of banking restrictions on crypto firms and related services like insurance, and evaluate their proportionality and impact on consumers, businesses, innovation, and competition.

The article notes the UK’s new crypto regulatory framework and includes reactions from experts on digital identity concepts within the broader policy environment.

The inquiry sits within wider regulatory developments and London’s role in the UK crypto ecosystem, reflecting growing corporate and policy interest.

The inquiry precedes the Financial Conduct Authority’s upcoming start to accept crypto firm authorization applications, signaling heightened regulatory attention.

The investigation will compare UK practices with international models to identify measures that ensure financial stability, consumer protection, and responsible market growth.

Written submissions are open until late August from banks, payment providers, crypto firms, and other stakeholders, with findings and recommendations to follow.

A key objective is to assess whether remaining banking barriers could hinder the UK’s ambition to lead in digital assets when the regulatory framework starts in 2027.

The six‑week consultation invites input from banks, fintechs, payment providers, and crypto firms, running from late July to the end of August, culminating in recommendations for government.

The inquiry aligns with the UK’s push to regulate digital assets and strengthen its position as a global crypto hub ahead of a comprehensive framework taking effect in 2027.