Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he is taking to increase consumer awareness of the potential advantages and disadvantages of investing in cryptoassets.

The Government has considered its approach to cryptoassets through the Cryptoassets Taskforce - comprised of the Treasury, the Bank of England, and the Financial Conduct Authority (FCA)^[1]. The Government will be consulting on its approach to cryptoassets this year.

The FCA has issued consumer warnings highlighting the risks of cryptoassets and warning that any individual investing in cryptoassets should be prepared to lose money. Cryptoassets have also been added to the FCA’s ScamSmart website, which helps consumers to avoid falling victim to common types of scams and investment fraud.

[1] https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf