UK Parliament questions major banks over crypto account access

UK lawmakers have asked the chief executives of every major British bank to disclose how they treat crypto businesses and related payments as Parliament examines whether banking restrictions are limiting the sector ahead of the country’s 2027 regulatory regime. Summary UK lawmakers have asked major banks to explain how they treat crypto firms and related payments. The APPG said limited banking access could hurt crypto businesses ahead of the UK’s 2027 regulatory regime. HSBC, NatWest, Monzo and Nationwide reportedly cap transfers to crypto exchanges, while Starling and Chase UK block them. The APPG is accepting evidence for its crypto banking inquiry until Aug. 31. The Crypto and Digital Assets All-Party Parliamentary Group said Tuesday that its co-chairs, Labour MP Gurinder Singh Josan and Lord Vaizey of Didcot, had written to bank executives after hearing repeated accounts of digital asset companies struggling to open or maintain banking relationships in the UK. The letter asks banks to explain whether they currently provide accounts to crypto firms, the reasons for refusing them where they do not, and any limits placed on transactions involving digital asset platforms. Banks wer...