# UK parliamentary group investigates banking barriers for crypto firms Inquiry launched into challenges crypto businesses face accessing banking services. - **Source:** [Cointelegraph.com News](https://brifing.si/source/2e81e982-0137-4db0-8ac2-351f37085775) - **Published:** 2026-07-21 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/8f7af9cc-fbc6-4e9d-93d1-c8f74223cc48 ## Scope of the issue Crypto firms and individual users in the UK face significant restrictions in accessing bank accounts and conducting crypto-related transactions. The parliamentary group has begun examining how these barriers affect investment decisions and competition in the sector. ## Data insights A survey reveals that 40% of transactions to crypto platforms are blocked or delayed by UK banks. 70% of respondents stated these restrictions have made them reluctant to invest, expand, or hire within the country. ## Investigation process The parliamentary group will assess whether banks' restrictions are proportionate. Written submissions from banks, payment providers, and crypto firms will be collected until August 31, after which findings and recommendations will be published. ## Regulatory context The inquiry coincides with the Financial Conduct Authority (FCA) preparing to accept license applications from crypto firms starting September 30. This timing suggests potential clarification of the regulatory framework for the sector. ## Economic impact analysis Experts argue banking barriers weaken the UK's global competitiveness in the crypto sector. The investigation will also examine how these restrictions affect economic growth and innovation in digital assets. ## Sector significance This move could mark a turning point for crypto integration into traditional finance. Parliament's recommendations may reshape how both banks and crypto firms operate, potentially setting new industry standards. ## Sources covering this story - https://cointelegraph.com/news/uk-inquiry-banking-barriers-crypto-firms?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._