Official account of the Crypto & Digital Assets All-Party Parliamentary (APPG) Group chaired by @gsjosan and @edvaizey. Secretariat provided by @CryptoUKAssoc.
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Crypto & Digital Assets APPG retweeted
Have you experienced banking barriers in the UK crypto sector?
There are two weeks left to submit evidence to the @cryptoappg Parliamentary Inquiry into access to banking services, led by @edvaizey and @gsjosan.
Details and submission link in the comments below 👇
The Crypto and Digital Assets All-Party Parliamentary Group (APPG) has today written to the Chief Executives of all major UK banks over barriers to banking services for UK crypto and digital asset businesses: cryptouk.io/resources/crypto…
In an interview with the Financial Times, APPG Co-Chairs Gurinder Singh Josan CBE MP (@gsjosan) and Lord Vaizey of Didcot (@edvaizey), said: "Access to banking services could be one of the single biggest barriers to growth for UK crypto and digital asset businesses, and could potentially undermine the success of the UK's forthcoming crypto regime. We are concerned that limited banking access could ultimately make it harder for licensed firms to grow and could impact the decisions of firms considering investing in the UK."
The 'Dear CEO' letter asks banks to explain their approach to providing banking services to UK crypto and digital asset businesses, following reports that firms continue to face difficulties opening bank accounts and that several banks have introduced restrictions on crypto-related payments and transactions.
The letter follows the launch of the APPG's Parliamentary Inquiry into Access to Banking Services for the UK Crypto and Digital Assets Sector last month, which is examining the scale of these challenges, their impact on UK businesses, the factors driving them, and whether any further action may be needed.
The APPG's Parliamentary Inquiry remains open for written evidence until 31 August 2026. Find out more here: cryptouk.io/resources/crypto…
Crypto & Digital Assets APPG retweeted
🇬🇧 JUST IN: A UK parliamentary group launches an inquiry into banks restricting crypto firms’ access to accounts and crypto-related payments.
The Crypto & Digital Assets APPG has today launched a Parliamentary Inquiry into access to banking services for the UK's crypto and digital assets sector.
The APPG is Westminster's leading cross-party group on crypto and digital assets, co-chaired by Lord Vaizey of Didcot (@edvaizey) and Gurinder Singh Josan CBE MP (@gsjosan), with @CryptoUKAssoc serving as its Secretariat.
As the UK prepares to implement its new crypto regulatory framework, the APPG is seeking evidence to better understand whether crypto and digital asset businesses continue to face barriers when accessing banking services, and whether further action may be needed. The Inquiry builds on the APPG's previous Parliamentary Inquiry, which identified access to banking as one of the most significant challenges facing the sector.
The Inquiry will examine access to bank accounts and banking services for crypto and digital asset businesses, as well as restrictions placed by banks on crypto-related transactions. It will also consider the impact on innovation, investment, competition and the UK's competitiveness, while identifying examples of good practice and potential solutions.
The APPG is inviting anyone with relevant experience or evidence - including banks, payment service providers, crypto and digital asset businesses, regulators, trade associations, consumer groups and other interested stakeholders - to contribute to the Inquiry.
The call for evidence is now open and closes on 31 August 2026. If your organisation has relevant evidence or experience to share, the APPG encourages you to contribute and help inform its findings and recommendations.
Find out more and submit evidence here: cryptouk.io/resources/crypto…
The Crypto and Digital Assets All-Party Parliamentary Group (APPG) has welcomed the publication of new UK-US recommendations designed to strengthen cooperation on digital assets, stablecoins and tokenisation.
Published by @hmtreasury and the @USTreasury through the Transatlantic Taskforce for the Markets of the Future, the recommendations set out a roadmap for closer UK-US collaboration on digital assets and capital markets, recognising the importance of greater international cooperation to support innovation, investment and competitiveness.
As Westminster's leading cross-party group of MPs and Members of the @UKHouseofLords focused on crypto and digital asset regulation, the APPG has consistently championed closer engagement between policymakers, regulators and industry in the UK and internationally.
Earlier this year, the APPG brought together senior UK and US digital asset industry leaders in Parliament to explore opportunities to strengthen UK-US collaboration.
Welcoming the recommendations, APPG Co-Chairs Lord Vaizey of Didcot (@edvaizey) and Gurinder Singh Josan CBE MP (@gsjosan) said:
"This is a significant and timely development, coming just weeks after the UK published its final rules and guidance for its new cryptoasset regime and as the United States continues to advance its own approach to digital asset regulation.
Greater cooperation and alignment between the UK and US on digital assets has the potential to provide businesses with greater regulatory clarity, reduce unnecessary cross-border friction and unlock investment, innovation and growth across two of the world's leading financial centres.”
Read the APPG's full statement here: cryptouk.io/resources/appg-w…
This week, members of Parliament's Crypto and Digital Assets APPG, Westminster's leading cross-party group of MPs and Members of the House of Lords focused on crypto and digital asset regulation, visited the London headquarters of @B2C2Group for a behind-the-scenes look at how one of the UK's leading digital asset trading firms operates.
Organised by @CryptoUKAssoc as Secretariat to the APPG, the visit gave MPs and Members of the House of Lords the opportunity to tour B2C2's operations, meet its senior leadership team and watch a live demonstration of how institutional digital asset trades are executed and settled.
The visit, led by APPG Co-Chairs Gurinder Singh Josan CBE MP (@gsjosan) and Lord Vaizey of Didcot (@edvaizey), also coincided with the publication of the FCA's final rules and guidance for the UK's new cryptoasset regime.
As the UK moves towards implementing its new regulatory framework, helping parliamentarians develop a practical understanding of the sector will remain a key part of the APPG's work. Visits such as this provide valuable opportunities to hear directly from industry leaders and see first-hand how UK crypto businesses operate.
Thank you to Thomas Restout and the entire B2C2 team for hosting such an insightful visit and discussion.
The Crypto and Digital Assets APPG has welcomed the publication of the @TheFCA's final rules and guidance for the UK's new cryptoasset regime.
The publication of the rules is a landmark moment for the UK and the biggest step yet towards delivering the Government's ambition of making Britain a global hub for cryptoassets and digital finance.
Commenting on the announcement, APPG Co-Chairs Gurinder Singh Josan CBE MP (@gsjosan) and Lord Vaizey of Didcot (@edvaizey) said:
"More than four years ago, the Government set out its ambition to make the UK a global hub for cryptoassets and digital finance. This latest announcement brings us much closer to turning that ambition into reality. It provides the clarity that businesses have been calling for, while giving the 4.5 million adults in the UK who now own cryptoassets stronger protections and greater confidence in the market."
As implementation begins, the APPG will continue working closely with Parliament, Government, regulators and industry to support the successful delivery of the new regime. Our focus will be on helping to ensure the framework is implemented effectively, that firms and regulators are ready for the transition, and that the UK continues to develop a regulatory environment that protects consumers while supporting innovation, investment and long-term growth across the digital assets sector.
Read the full APPG statement here: cryptouk.io/resources/crypto…
The Crypto & Digital Assets APPG has welcomed the Bank of England's decision to scrap its proposed stablecoin holding limits.
Commenting on the announcement, APPG Co-Chairs Gurinder Singh Josan CBE MP (@gsjosan) and Lord Vaizey of Didcot (@edvaizey) said:
"We warmly welcome the Bank of England's decision to remove its proposed stablecoin holding limits. This is a significant and positive step forward for the UK's digital assets sector and one that will be welcomed by businesses, investors and innovators across the industry.”
“The UK has made clear its ambition to be a global leader in digital assets, and achieving that goal will require a regulatory framework that supports innovation, attracts investment and enables new technologies to develop and scale in the UK. Yesterday's announcement is a big step in the right direction and sends a positive signal that the UK is serious about competing in the global digital assets market."
The APPG has previously raised concerns that the original proposals risked putting the UK out of step with other major international markets and could have held back the development of a competitive UK stablecoin market.
The Group has also welcomed the Bank of England's willingness to listen to feedback from Parliament and industry and adopt a more proportionate approach.
Read the full statement here: cryptouk.io/resources/appg-w…
Crypto & Digital Assets APPG retweeted
The Bank of England has today published its policy statement and draft rules for systemic stablecoins, marking a significant milestone in the development of the UK's digital asset framework.
The final approach reflects a more practical balance between financial stability and innovation. Notably, the Bank has moved away from the proposed holding limits on stablecoins and instead introduced a temporary issuance guardrail. It has also increased the proportion of backing assets that can be held in short-term UK government debt from 60% to 70%.
These changes improve the viability of issuing sterling-denominated stablecoins and help strengthen the UK's position in an increasingly competitive global market.
Several of the final policy changes align closely with concerns raised by CryptoUK and its members during consultation, particularly around holding limits, reserve asset composition and the long-term competitiveness of sterling stablecoins.
The framework continues to prioritise key safeguards, including prompt redemption, strong consumer protections and central bank oversight, while providing greater clarity for firms looking to build and scale in the UK.
There is still work to do. Questions remain around the treatment of central bank deposits, transition arrangements between the FCA and Bank of England regimes, and the final details of the Code of Practice. It will also be important that the various consultations and policy initiatives currently underway across the Bank of England, FCA and HM Treasury are aligned into a coherent and practical framework for digital assets.
However, this represents an important step towards a regulated environment in which sterling stablecoins can develop as trusted forms of digital money.
CryptoUK will continue engaging with the Bank of England, the FCA and policymakers as the regime is refined through the draft Code of Practice and wider digital asset reforms.
The Crypto and Digital Assets APPG, supported by @CryptoUKAssoc as secretariat, recently wrote to HM Treasury and the FCA to raise concerns around transitional arrangements and regulatory readiness ahead of the UK’s new cryptoasset regime.
Following extensive engagement with industry, the APPG highlighted strong support for the UK’s ambition to become a global digital assets hub but also consistent concerns around the scale, pace, and complexity of transition into the new framework. The APPG also noted that firms will be required to move from the current AML regime to full FCA authorisation, meeting significantly higher standards across governance, financial resilience, risk management, safeguarding, and consumer protection, requiring substantial operational and financial change within a relatively short timeframe.
In its letter, the APPG Co-Chairs Gurinder Singh Josan MP (@gsjosan) and Lord Vaizey of Didcot (@edvaizey) asked whether transitional or phased implementation measures could support a smoother transition, while also seeking clarity on FCA resourcing and readiness to manage authorisations and supervision effectively from day one.
HM Treasury, in its response, said the current timeline “strikes the right balance”, with firms given over a year to secure authorisation ahead of the regime going live in October 2027. It also highlighted FCA support measures and ongoing investment in regulatory capability.
The FCA said it is actively considering transitional arrangements and continues to prepare for the volume and complexity of applications, while building specialist capability and supporting firms through engagement, guidance, and its upcoming Pre-Application Support Service.
The APPG will continue to work closely with industry, Government and regulators to help ensure the UK’s crypto regime is robust, workable, and supports growth while maintaining high standards.
If you would like to review all three letters, you can find them on CryptoUK's website: cryptouk.io/resources/crypto…
Yesterday, the Crypto and Digital Assets APPG, co-chaired by @edvaizey and @gsjosan, hosted a US delegation from @DigitalChamber in Parliament, supported by @CryptoUKAssoc.
UK parliamentarians and US & UK industry leaders discussed regulatory developments in both countries, opportunities for deeper transatlantic collaboration, and how to build a digital assets ecosystem that delivers strong consumer protection while supporting innovation, growth and investment.
Read more: cryptouk.io/resources/hosted…
Thank you to everyone who joined us from: @UKParliament, @UKHouseofLords, @CryptoUKAssoc, @DigitalChamber, @socios, @B2C2Group, @Lukka, @bitcoinhodlco, @CoinTracker, @ZuberLawler, @WisdomTreeEU, @particula_io, @BGameAlliance, @binance, and @AlliumLabs.
This week, the Crypto and Digital Assets APPG - co-chaired by Lord Vaizey (@edvaizey) and Gurinder Josan MP (@gsjosan) - held its first industry roundtable of 2026 in Parliament.
Chaired by Lord Vaizey, the discussion featured Yasmin Johal (@CMS_law), Ian Taylor (@CryptoUKAssoc) and Dean Sovolos (@B2C2Group), focusing on the UK’s proposed crypto regime, regulatory gaps and barriers to investment, and the approach of other countries including the US.
Key themes included UK–US cooperation, the pace of regulation, resourcing regulators, and the risk of the UK falling behind as the US moves faster and attracts capital.
The APPG remains the leading forum in Westminster for parliamentary–industry dialogue on crypto and digital assets, and will continue to host further sessions throughout the year.
Thank you to all those who took the time to join and contribute to the session: Rebecca Rogers (@B2C2Group), Freddie New (@bitcoinhodlco), James Newman (@socios), Sam Robinson (@CMS_law), Laura Knight (@KnightbridgeTax), Sarah Tomalewicz (@Bullish), Chrislyn Pereira (@eunice_ai1), Devina Paul (@zumopay), Monique Pettigrew (@bitwise), Timothy Cant (@ashurst), Nigel Brahams (Collyer Bristow), Heather O. (@FSCom1), Steve Martin (@GreengageCo), James Kaufmann (@HillDickinson), Ali Shaikha (@notabene_id), Bhavesh Panchal and Samantha Wood (@Paul_Hastings), Brett Hillis (@reedsmithllp), Ian Silvera (@SECNewgateUK), Meghan Millward (@TLT_LLP), Joanna Rindell (@trilitech), Mykhailo Movchan (@WhiteBit), Ron Hammond (@wintermute_t), and Dovile Silenskyte (@WisdomTreeFunds).
Crypto & Digital Assets APPG retweeted
Last week, as co-chair of the @cryptoappg, I visited @DigitalChamber in Washington DC, USA - the largest USA based blockchain and digital asset trade association.
Met with Zunera Mazhar, Vice President of Policy and Anastasia Dellaccio, Executive Director of State and Regional Affairs to compare notes on progress of crypto & digital asset regulatory frameworks in the USA and UK.
Particularly pleased to visit as APPG secretariat, @CryptoUKAssoc, has now joined The Digital Chamber family.
Crypto & Digital Assets APPG retweeted
In an interview with @TheBanker, Lord Ed Vaizey of Didcot (@edvaizey) stressed the importance of the UK needing to ‘move faster’ on crypto rules:
“The UK has made good progress in a number of areas but we still lack a comprehensive framework for crypto and digital assets….Industry is ready to deliver growth and innovation, but it needs consistent, co-ordinated rules to make that possible.”
Building on this, he pointed to the risks of falling behind:
“The UK has the talent, expertise and infrastructure to lead the world in digital finance, but progress has been slow while others have moved ahead……Here in the UK, firms still face fundamental barriers to growth and investment, specifically from slow licensing processes to difficulties accessing basic banking services…..That’s driving some companies overseas and leaving UK consumers exposed to unregulated markets.”
Looking ahead, he emphasised that political commitment must now be matched by action:
“The Labour government plans to introduce legislation for a crypto and stablecoin regime later this year but we need to move quickly….The next two years must focus on delivery, with government and regulators working in tandem to provide certainty for business and confidence for investors.”
Co-Chairs of the UK Parliament’s Crypto and Digital Assets All Party Parliamentary Group (APPG) have welcomed the passage of the Property (Digital Assets etc) Act after it was granted Royal Assent by His Majesty the King.
Gurinder Singh Josan CBE MP (@gsjosan), said:
“The passage of the Property (Digital Assets etc) Act is a landmark moment for the UK and a vital step towards a full and comprehensive regulatory framework for crypto and digital assets. With crypto ownership in the UK having almost trebled since 2021, this legislation provides the millions of people who own crypto in the UK with greater legal protections and clarity over their digital assets. By recognising digital assets in law, the UK is giving consumers clear ownership rights, stronger protections, and the ability to recover assets lost through theft or fraud. The Crypto and Digital Assets APPG will continue to champion strong consumer protections and ensure that legislation keeps pace with the rapid growth of digital assets.”
Lord Vaizey of Didcot (@edvaizey), added:
“The Crypto and Digital Assets APPG welcomes this important Act as a key milestone on the UK’s path to a complete regulatory framework for digital assets. Its passage into law delivers much-needed legal clarity for users of digital assets in the UK. With the Government committed to establishing a world-leading regime for crypto and digital assets, today’s development moves the UK decisively closer to that goal and sends a clear signal that we are serious about becoming a global hub for digital assets. The APPG will continue to press for a coherent, comprehensive regulatory framework that both protects consumers and gives industry the clarity it needs to innovate and thrive here in the UK.”
BREAKING: UK Law Now Officially Recognises Digital Assets 🇬🇧
The UK has today taken an important step forward in recognising the role of digital assets in the modern economy. A new law has come into effect confirming that qualifying digital assets — including crypto-tokens, stablecoins and NFTs — can be treated as property under UK law.
This change provides greater clarity and protection for consumers and investors by ensuring that digital assets can be clearly owned, recovered in cases of theft or fraud, and included within insolvency and estate processes. It marks a meaningful shift towards giving everyday holders the same confidence and certainty they expect with other forms of property.
Crucially, this development also strengthens the foundations for future innovation across the UK’s digital asset and tokenisation landscape. By providing a clear legal basis for ownership and transfer, the UK is now better positioned to support the growth of new financial products, tokenised real-world assets, and more secure digital markets. These legal protections help create the certainty businesses need to build responsibly and invest in long-term, consumer-focused innovation.
CryptoUK has consistently advocated for a clear and robust legal framework for digital assets, and we are pleased to see this important progress. We look forward to continuing our work with policymakers and industry to support the development of a competitive, responsible and future-ready UK market.
Speaking in the House of Lords today @edvaizey highlighted that the biggest risk facing the UK is the lack of regulation for crypto and digital assets.
With one in four Britons now trading crypto – and half of them under 35 – he emphasised that clear, proportionate rules are urgently needed to protect consumers and support innovation.
Responding, @SpenceLivermore, Financial Secretary to the Treasury, agreed on the importance of progressing legislation to unlock the benefits of digital assets and stablecoins for the UK economy.
This week, as the Bank of England published its consultation on the UK’s stablecoin regime, Baroness Neville-Jones, member of the UK Parliament’s Crypto and Digital Assets APPG, hosted representatives from @texasbankers - including CEO Chris Furlow - together with the APPG secretariat, @CryptoUKAssoc to discuss the rapidly evolving digital asset landscape in the UK and US.
The meeting came at a pivotal time for both jurisdictions, offering a timely discussion on the future of stablecoins, payments, and digital assets. Topics included the US GENIUS Act, the banking industry’s response and the evolving role of stablecoins in private sector payment systems. Participants also explored the UK’s progress on digital asset regulation, from the Conservative Government’s initial framework in 2022 to the Labour Government’s current comprehensive approach, and shared perspectives on recent regulatory actions and remaining barriers.
The session concluded with an open Q&A covering international comparisons, industry challenges, and opportunities for UK-US collaboration in shaping the future of digital finance.
Co-Chair of the UK Parliament’s Crypto and Digital Assets All Party Parliamentary Group (APPG) Lord Vaizey (@edvaizey) has today welcomed the Bank of England’s revised proposals on stablecoin regulations, however remains concerned over proposals to introduce caps on how much stablecoin individuals and businesses can hold.
“Today’s latest proposals on Stablecoins by the Bank of England are a significant step towards providing the clarity and certainty investors need to set up and scale up in the UK and helping to drive innovation, competitiveness, and economic growth.
It’s encouraging that the Bank has listened to industry feedback and revised some of its earlier proposals whilst also committing to deliver a UK regime as quickly as the US. These changes send a positive signal that the UK wants to be competitive in digital finance.
Whilst I welcome the proposed exemptions from holding limits for large retailers and intermediaries, I remain concerned about the proposals to introduce caps on how much stablecoin individuals and businesses can hold - an issue I raised recently in the House of Lords. No other major jurisdiction has such limits, and despite assurances they are temporary, there is no timeline for when they would be lifted.
While managing financial stability risks is essential, we must ensure regulation enables innovation, not inhibits it. The Bank’s consultation marks an important step forward, but the UK must strike the right balance by creating a regime that is both safe and ambitious enough to secure the country’s leadership in the future of digital money.”
