Overview
- A cross-party Crypto and Digital Assets APPG inquiry formally opened a six-week call for written evidence on July 21, 2026 to examine whether banks have refused accounts, closed relationships, blocked payments or imposed transfer limits on crypto firms.
- The APPG is inviting submissions from banks, payment firms, fintechs, insurers and crypto businesses and will publish a report of findings and recommendations to guide government and regulators before new rules take effect.
- Coverage and APPG statements name several major UK banks, including HSBC, Nationwide, NatWest, Santander and Starling, as having introduced restrictions such as payment blocks or transfer limits against crypto-related activity.
- The inquiry cites industry research showing about 40% of attempted transfers to exchanges were blocked or delayed and that 70% of exchanges said banking restrictions hurt investment, hiring or expansion in the UK.
- HM Treasury has previously told Parliament it would not expect FCA-licensed crypto firms to face sector-based exclusions, and the APPG will also compare approaches in the US, Hong Kong, Australia and the EU to draw lessons that could affect firms' ability to operate and grow.