[UK APPG Sends Letter to Major Banks Requesting Clarification on Crypto Business Account Restriction Policies]
According to a report by (Bitcoin.com), the UK All-Party Parliamentary Group (APPG) on Crypto and Digital Assets co-chairs Gurinder Singh Josan and Lord Vaizey sent a letter on August 11 to the CEOs of major UK banks, requesting clarification on policies regarding account services and transaction restrictions for crypto businesses. They also inquired whether these policies would be adjusted under the new regulatory framework. The MPs highlighted that access to banking services is a barrier to the development of crypto businesses in the UK. Economic Secretary to the Treasury Lucy Rigby stated that FCA-authorized crypto businesses should not face restrictions solely due to the nature of their industry. The deadline for submitting written evidence for the inquiry is August 31, and the APPG will use this to make policy recommendations to the government.
