A United Kingdom parliamentary group has initiated an investigation into barriers faced by cryptocurrency businesses and consumers in accessing banking services, including account openings and transaction restrictions.

The Crypto and Digital Assets All-Party Parliamentary Group announced the inquiry on Monday. It will evaluate the effects on investment, competition and economic growth, while assessing whether current measures are proportionate.

Stakeholders including banks, payment providers and crypto firms have until August 31 to submit written evidence. The group intends to release findings and recommendations afterward.

A survey conducted earlier this year by the UK Cryptoasset Business Council revealed that 10 exchanges reported banks blocking or delaying 40 percent of transactions. Seventy percent of respondents indicated the restrictions had diminished their willingness to invest, expand or hire in the United Kingdom.

Participants in the survey, which included major platforms such as Coinbase, Kraken and Gemini, reported increased instances of blocked customer transfers. One exchange estimated nearly 1 billion pounds in declined transactions over a 12-month period.

Industry representatives have argued that banks should apply differentiated risk assessments based on regulatory status, governance and fraud controls rather than uniform restrictions. They noted that blanket policies and transaction limits often fail to distinguish between high- and low-risk cases.

The inquiry precedes the Financial Conduct Authority’s planned start of full authorization applications for crypto firms on September 30. Full implementation of the regulatory regime is scheduled for October 2027.

Experts have highlighted a potential inconsistency between the government’s goal of positioning the UK as a global crypto hub and ongoing challenges in securing banking partnerships for authorized entities.