UK lawmakers have written to bank executives asking them to set out their policies on serving crypto businesses and users. The group warned that access to banking could be one of the biggest barriers to growth for the sector.
UK lawmakers have written to bank executives asking them to set out their policies on serving crypto businesses and users. The group warned that access to banking could be one of the biggest barriers to growth for the sector.
The letter adds to ongoing scrutiny of how traditional financial institutions treat crypto businesses. For companies operating in the space, the issue is not only about regulation, but also about whether they can reliably access essential banking services.
UK lawmakers have written to major bank CEOs asking them to explain why some crypto-related businesses and customers are being refused accounts. The request comes from the All-Party Parliamentary Group (APPG), which is seeking clarity on how banks approach crypto services.
The development matters because access to banking is a core issue for crypto firms and their users. If banks make it difficult to open or maintain accounts, that can affect day-to-day operations, payments, and broader business growth across the sector.
In its message, the APPG said it wants banks to outline their policies and decision-making around crypto exposure. The group warned that banking access could be one of the single biggest barriers to the industry’s growth.
The letter adds to ongoing scrutiny of how traditional financial institutions treat crypto businesses. For companies operating in the space, the issue is not only about regulation, but also about whether they can reliably access essential banking services.
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