Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what his policy is on promoting the use of digital currencies; and what impact assessment has been carried out on the economic benefits of regulating that sector.

As announced in the Fintech sector strategy in March, the government is establishing a Cryptoassets Taskforce made up of the Treasury, the Bank of England, and the Financial Conduct Authority.

The Taskforce will explore further the challenges of cryptoassets and the opportunities of the underlying distributed ledger technology in financial services, as well as assess the future response of the appropriate authorities, including around regulation.

The Taskforce will publish its final report in summer 2018.