UK lawmakers question lenders over lack of banking for the country’s crypto firms
UK lawmakers from the Crypto and Digital Assets All-Party Parliamentary Group have sent a letter to major banks demanding an explanation for the systematic denial of banking services to crypto firms. The group warns that these restrictions, which include payment blocks by lenders like HSBC and NatWest, could stifle the growth of the UK's digital asset sector and undermine upcoming regulatory frameworks.
The “Dear CEO” letter, signed by co-chairs of the Crypto and Digital Assets All-Party Parliamentary Group (APPG), Gurinder Singh Josan and Ed Vaizey, asked banks to explain their approach to providing banking services to U.K. crypto and digital asset businesses.
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