UK Parliamentary Group Investigates Bank Debanking of Crypto Firms Ahead of 2027 FCA Deadline

The All-Party Parliamentary Group (APPG) has launched a formal inquiry into the debanking of cryptocurrency firms by UK banks. The investigation aims to address concerns that legitimate crypto businesses are being unfairly denied banking services, which stifles innovation and growth in the sector. Evidence submissions are open until August 31, and the findings are due well before the Financial Conduct Authority's (FCA) mandatory deadline in 2027. This move signals a growing recognition of the need for clearer regulatory frameworks to support the crypto industry while ensuring compliance with financial standards.