UK parliamentary group probes banking barriers for crypto firms
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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. A January survey by the UK Cryptoasset Business Council found that 10 crypto exchanges said banks blocked or delayed 40% of transactions to crypto platforms. According to the survey, 70% of respondents said the restrictions had reduced their willingness to invest, expand or hire in the UK. The inquiry comes ahead of the Financial Conduct Authority beginning to accept authorization applications from crypto firms on Sept. 30. Related: London Stock Exchange eyes overnight trading launch in 2027: FT
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A UK parliamentary group has launched a formal inquiry into the challenges crypto firms face regarding access to banking services. This move aims to lower barriers between traditional finance and the crypto industry, potentially enhancing institutional acceptance of the UK crypto market. Investors are closely monitoring whether this inquiry will lead to regulatory easing or the establishment of clearer guidelines by UK financial authorities.
상승 영향
- Bitcoin — Improved access to financial services in the UK will accelerate the institutional adoption of digital assets. This is expected to facilitate market liquidity and serve as a strong catalyst for demand in major assets like Bitcoin.
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