Global Digital Finance (GDF), the Crypto Council for Innovation (CCI) and the UK Cryptoasset Business Council (UKCBC) submitted joint written evidence to the Crypto and Digital Assets All-Party Parliamentary Group (APPG) Inquiry on Access to Banking Services for the UK Crypto and Digital Assets Sector.
The submission highlights persistent challenges facing crypto and digital asset businesses in accessing basic banking and payment services, as well as restrictions placed on consumers seeking to transfer funds to regulated cryptoasset firms. Drawing on industry research and data, the response argues that broad, sector-wide restrictions can limit competition, increase operational costs and uncertainty, reduce consumer choice, and undermine the UK’s attractiveness as a jurisdiction for digital asset businesses.
GDF, CCI and UKCBC emphasise that addressing these challenges does not require lowering financial crime or consumer protection standards. Instead, the submission calls for more proportionate, risk-based assessments that distinguish between individual firms, business models, customers and transactions rather than applying blanket restrictions based on sector exposure.
Key recommendations include clearer supervisory expectations for banks, greater transparency around account refusals and payment restrictions, improved data collection and information-sharing, the establishment of a standing Banking and Digital Finance Forum, and greater use of blockchain analytics and technology-enabled financial crime controls.
Overall, the submission calls for regulation and access to financial infrastructure to evolve together, ensuring that legitimate and regulated digital asset businesses and consumers can participate effectively in the UK financial system while maintaining strong standards of consumer protection and financial integrity.
Submitted:
28/08/2026