UK parliamentary group probes banking barriers for crypto firms

A UK parliamentary group launched an inquiry into banking restrictions on crypto firms and consumers, including their impact on investment and competition.

A United Kingdom parliamentary group has launched an inquiry into whether crypto businesses and consumers face barriers to banking services, including account access and restrictions on crypto-related transactions.

On Monday, the Crypto and Digital Assets All-Party Parliamentary Group (APPG) said that it would examine how the restrictions affect investment, competition and economic growth. The group said it would assess whether the restrictions are proportionate.

Written submissions from banks, payment providers, crypto firms and other stakeholders are open until Aug. 31, after which the group plans to publish its findings and recommendations.