UK Parliament begins inquiry into banking chokepoint for crypto businesses
CoinDesk·
60-second summary
The U.K.'s Crypto and Digital Assets All-Party Parliamentary Group (APPG) is conducting an inquiry into banking restrictions on crypto businesses, targeting banks that refuse crypto firms accounts or impose restrictions on transactions. The inquiry aims to address the 'banking chokepoint' issue affecting crypto companies, with 70% of U.K. crypto firms reportedly facing banking problems.
The U.K.’s Crypto and Digital Assets All-Party Parliamentary Group (APPG) is focused on banks that refused crypto firms accounts or introduced restrictions on crypto transactions.