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UK Parliament begins inquiry into banking chokepoint for crypto businesses | LCX Crypto News

UK Parliament begins inquiry into banking chokepoint for crypto businesses | LCX Crypto News

UK politicians want to know the extent to which the country’s banks have choked-off cryptocurrency firms by refusing them bank accounts and introducing restrictions on crypto-related payments, in a cross-party inquiry kicked off on Tuesday.

The UK’s Crypto and Digital Assets All-Party Parliamentary Group (APPG) is chaired by Lord Vaizey of Didcot, the former UK Government Minister for the Digital Economy, and Labour MP Gurinder Singh Josan CBE, according to a press release.

Ever since crypto came into being, difficulties around attaining banking relationships have made life hard for players in the space, with a systematic debanking of firms and individuals, particularly in the U.S. being referred to as “Operation Chokepoint…

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