UK MPs Push Banks to Clarify Treatment of Authorized Crypto Companies

TL;DR

• UK lawmakers asked major banks to explain whether FCA-authorized crypto companies will receive fairer access to accounts, services and transaction facilities under the new regime.
• The FCA framework opens applications September 30, runs through February 28, 2027, and is expected to take effect October 25, 2027.
• The APPG is collecting evidence through August 31 on banking restrictions, sector-wide de-risking and whether current practices could undermine Britain’s regulated digital asset ambitions.

UK lawmakers are pressing major banks to explain whether authorized crypto companies will receive fairer treatment once the Financial Conduct Authority’s new digital asset regime takes effect. Gurinder Singh Josan and Lord Vaizey, co-chairs of the Crypto and Digital Assets All-Party Parliamentary Group, wrote to bank executives seeking details on current policies, account access and transaction restrictions. The concern is striking: regulation may become clearer while banking access remains uncertain. The lawmakers warned that difficulty securing ordinary financial services could become one of the biggest barriers to growth for Britain’s crypto industry across the sector.

… Continue reading the full article at the original source below.