'One of the single biggest barriers to growth': UK lawmakers press banks over crypto access ahead of new FCA regime

What happened

UK lawmakers have asked banks to explain how the upcoming FCA crypto regime might alter their policies toward digital‑asset firms, highlighting concerns that current banking practices limit crypto‑related growth.

Confirmed

Global impact / market context

Banks are a major obstacle for crypto firms seeking financing; if banks tighten or ease rules under the FCA regime, it will directly affect the ability of digital‑asset companies to raise capital, pay suppliers and expand operations.

Proposed

The UK is preparing a new regulatory framework for crypto assets, overseen by the Financial Conduct Authority (FCA). This shift could reshape how banks interact with digital‑asset firms, influencing capital flows and compliance costs.

Confirmed

What to watch

1. Monitor how quickly major UK banks revise their onboarding and service policies for crypto firms to comply with the FCA’s new rules, which will determine service availability. Analyst inference
2. Watch for any FCA guidance that adds specific compliance requirements, such as AML checks or capital reserves, which could raise operating costs for digital‑asset companies. Analyst inference
3. Track investor sentiment toward UK crypto firms as banking access changes, since easier banking could boost confidence and funding, while tighter access may deter investment. Analyst inference

Affected assets

• DFI — DeFiChain

Evidence

• theblock.co