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UK Parliament Launches Inquiry Into Bank Restrictions on Crypto Firms; 40% of Transfers to Exchanges Blocked

Regulation & Policy Enforcement Actions

2026-07-21 10:03:11

HSBC2.48%

On July 21, the UK's Crypto and Digital Assets All-Party Parliamentary Group (APPG) launched a parliamentary inquiry into whether banks are unfairly restricting cryptocurrency businesses' access to financial services. The investigation will examine account closures, payment blocks, and transfer limits imposed by major banks including HSBC, NatWest, Santander, Nationwide, and Starling Bank. According to the APPG, approximately 40% of attempted transfers from UK bank accounts to cryptocurrency exchanges have been blocked or delayed. Evidence will be gathered from crypto firms, banks, regulators, and consumer groups to determine whether existing banking practices align with the UK's recently finalized crypto regulatory framework and its goal of becoming a global digital-asset hub.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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