The UK’s All-Party Parliamentary Group (APPG) for Crypto Assets and Digital Assets officially announced on July 21 that it is launching an investigation into banking service obstacles for crypto companies. The group will collect written materials from banks, payment institutions, crypto companies, and relevant stakeholders, with a submission deadline of August 31. It will then publish its findings and policy recommendations. According to a January survey report by the UK Cryptoasset Business Council (UKCBC), 10 crypto exchanges said banks blocked or delayed 40% of transactions to crypto platforms.
APPG Investigation Announcement Details: Scope, Written Submission Procedure, and FCA Authorization Timeline
According to the APPG’s official announcement, this investigation will cover the following areas:
Difficulty accessing accounts: Whether crypto companies and consumers face obstacles to opening bank accounts
Trading restrictions and delays: Whether banks impose limitations on crypto-related trades
Impact on investment: Whether such restrictions reduce willingness to invest in the UK market
Impact on competition: Whether banking obstacles affect competition in the crypto industry
Impact on economic growth: The quantitative impact of overall restrictions on the UK crypto economy
Written submission deadline: August 31, 2026; the investigation covers banks, payment institutions, crypto companies, and relevant stakeholders. The official opening date for FCA crypto authorization applications is September 30, 2026; the timing of this investigation aligns with the FCA authorization process.
UKCBC Report: 40% of Crypto Trades Blocked or Delayed
According to a quantitative survey report published by the UK Cryptoasset Business Council (UKCBC) in January 2026, among the 10 crypto exchanges interviewed, banks blocked or delayed 40% of transactions directed to crypto platforms. Seventy percent of respondents said these restrictions reduced their willingness to invest, expand, or hire employees in the UK.
The UKCBC report reveals that although the UK crypto market is expanding overall in size, the underlying banking infrastructure still relies mainly on passive filtering: banks do not explicitly exclude crypto companies, but delays in transactions and account restrictions in real operations have affected the industry’s expansion rate.
Hong Kong Case and Comparison with the UK Approach
As a comparison case, in April 2026 the Hong Kong Monetary Authority and the Securities and Futures Commission held a crypto-friendly banking meeting to help crypto companies open bank accounts, adopting a direct coordination solution path.
By contrast, this time the UK is using the standard legislative procedure of “investigation → recommendations → policy”: APPG’s investigation (through August 31) comes first, followed by the FCA authorization application (September 30), resulting in a more systematic sequence.
FAQ
What is the deadline for written submissions for the UK APPG investigation into banking obstacles for crypto?
According to the APPG’s official announcement, the deadline for submitting written materials from banks, payment institutions, crypto companies, and relevant stakeholders is August 31, 2026. The APPG will then publish its investigation results and policy recommendations.
When will the UK FCA crypto authorization application plan begin accepting applications?
According to an FCA announcement, the crypto companies’ authorization application plan will officially open for acceptance on September 30, 2026.
What quantitative data does the UKCBC report provide on UK crypto banking obstacles?
According to the January 2026 UKCBC survey report, 10 crypto exchanges said banks blocked or delayed 40% of transactions directed to crypto platforms, and 70% of respondents said these restrictions reduced their willingness to invest, expand, or hire employees in the UK.
