Cryptocurrencies: US Regulation

Lord Davidson of Glen Clova Excerpts

Wednesday 12th November 2025 Lords Chamber

Asked by

[Lord Davidson of Glen Clova]

To ask His Majesty’s Government what assessment they have made of the risks to the finance system in the United Kingdom arising from the loosening of regulation of cryptocurrencies in the United States of America.

[The Financial Secretary to the Treasury (Lord Livermore) (Lab)]

My Lords, the UK is engaged with the US on crypto asset risks through international fora, and we have created a joint UK-US Transatlantic Taskforce for Markets of the Future, for enhanced collaboration on digital assets. The Government are legislating this year for a crypto assets financial services regulatory regime, with the Financial Conduct Authority as the lead regulator, so consumers are protected and firms have the certainty needed to invest and grow in the UK.

[Lord Davidson of Glen Clova (Lab)]

I thank my noble friend the Minister for his Answer. The risks normally associated with cryptocurrencies are volatility, fraud, money laundering and access to criminality. Have these risks been assessed by the Government, and if so, with what result?