A UK parliamentary cross-party group warned major banks that refusing to serve cryptoasset firms could become one of the biggest obstacles to the growth of the country's digital asset industry. According to Sina Finance, the group said repeated difficulties in accessing banking services are holding back crypto businesses and urged lenders to make their policies on serving digital asset firms clear.

The co-chairs of the UK Parliament's cross-party Crypto and Digital Assets Group, former Conservative minister Lord Ed Vaizey and Labour MP Gurinder Singh Josan, said banking access problems could significantly constrain the growth of the UK's crypto and digital asset businesses and weaken the effectiveness of the country's upcoming crypto regulatory regime. The group said its consultation feedback will continue until the end of August, after which it plans to publish a report with recommendations.