UK Parliament launches inquiry into banks blocking crypto firms from accounts

The UK's Crypto and Digital Assets All-Party Parliamentary Group (APPG) has initiated a formal inquiry into banking access issues faced by cryptocurrency businesses. The investigation centers on banks that have either refused to open accounts for crypto firms or imposed restrictions on crypto-related transactions. The APPG, a cross-party group of parliamentarians, is examining what critics have called a 'chokepoint' that limits the ability of crypto companies to operate. The inquiry reflects growing concern among UK lawmakers about whether financial institutions are unfairly restricting a legitimate and emerging sector of the economy.