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Written Question
Cryptocurrencies: Regulation
Tuesday 29th July 2025

Asked by: Lord Sarfraz (Conservative - Life peer)

Question to the HM Treasury:

To ask His Majesty's Government what plans they have to regulate pound sterling-backed stablecoin; and what assessment they have made of the impact of the United States GENIUS Act on any such regulation.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

The Government has confirmed that it will bring forward final legislation this year to create a financial services regulatory regime for cryptoassets in the UK. The Government recognises the growth and competitiveness opportunities of stablecoins, and its regime will allow firms to be licensed in the UK to issue stablecoins.


Following the passing of the GENIUS Act by the US Congress, the Government’s approach to cryptoassets positions the UK well to work with the US in advancing our shared ambition to foster world-leading cryptoasset markets.

Division Vote (Lords)
23 Jul 2025 - Employment Rights Bill - View Vote Context
Lord Sarfraz (Con) voted Aye - in line with the party majority and in line with the House
One of 173 Conservative Aye votes vs 0 Conservative No votes
Vote Tally: Ayes - 271 Noes - 138
Division Vote (Lords)
23 Jul 2025 - Employment Rights Bill - View Vote Context
Lord Sarfraz (Con) voted Aye - in line with the party majority and in line with the House
One of 181 Conservative Aye votes vs 0 Conservative No votes
Vote Tally: Ayes - 290 Noes - 143
Division Vote (Lords)
23 Jul 2025 - Employment Rights Bill - View Vote Context
Lord Sarfraz (Con) voted Aye - in line with the party majority and against the House
One of 171 Conservative Aye votes vs 0 Conservative No votes
Vote Tally: Ayes - 198 Noes - 198
Division Vote (Lords)
22 Jul 2025 - Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) Regulations 2025 - View Vote Context
Lord Sarfraz (Con) voted No - in line with the party majority and in line with the House
One of 100 Conservative No votes vs 41 Conservative Aye votes
Vote Tally: Ayes - 155 Noes - 267
Speech in Lords Chamber - Fri 18 Jul 2025
Strategic Defence Review 2025

"My Lords, I welcome the review—I read the whole document—and I congratulate the noble Lord, Lord Robertson. The country is very lucky to have his expertise and leadership.

While I, like many noble Lords, am all for increased defence spending, I still cannot get my head around why the ODA …..."
Lord Sarfraz - View Speech

View all Lord Sarfraz (Con - Life peer) contributions to the debate on: Strategic Defence Review 2025
Speech in Grand Committee - Thu 17 Jul 2025
Online Communication Offence Arrests

"My Lords, I, too, congratulate the noble Lord, Lord Lebedev, on securing this timely debate. I know that he has been a great champion of the media and free speech for many years.

At the heart of this debate lies the matter of ensuring that the police have the resources, …..."
Lord Sarfraz - View Speech

View all Lord Sarfraz (Con - Life peer) contributions to the debate on: Online Communication Offence Arrests
Division Vote (Lords)
15 Jul 2025 - Renters’ Rights Bill - View Vote Context
Lord Sarfraz (Con) voted Aye - in line with the party majority and in line with the House
One of 171 Conservative Aye votes vs 0 Conservative No votes
Vote Tally: Ayes - 282 Noes - 158
Division Vote (Lords)
15 Jul 2025 - Renters’ Rights Bill - View Vote Context
Lord Sarfraz (Con) voted Aye - in line with the party majority and against the House
One of 73 Conservative Aye votes vs 0 Conservative No votes
Vote Tally: Ayes - 106 Noes - 148
Division Vote (Lords)
15 Jul 2025 - Renters’ Rights Bill - View Vote Context
Lord Sarfraz (Con) voted Aye - in line with the party majority and against the House
One of 191 Conservative Aye votes vs 0 Conservative No votes
Vote Tally: Ayes - 215 Noes - 240