Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the adequacy of the UK’s proposed regulatory framework for cryptoassets compared with those of other major jurisdictions, including the EU; and what steps he is taking to ensure the UK attracts digital-assets investment and innovation.

The Government has worked closely with the Financial Conduct Authority (FCA) to deliver a comprehensive and internationally competitive UK regulatory regime for cryptoassets. The Government’s objective is to ensure the regime appropriately balances the protection of consumers with a regulatory environment that supports innovation and growth.

The regime will come into force in October 2027 and includes transitional and savings provisions to support an orderly transition to the new regulatory framework. The FCA’s authorisation gateway opened on 30 September 2026, and the FCA is providing various forms of support for firms through the authorisation process. This includes offering a free, optional pre-application meeting to discuss a firm’s business model, the authorisation process, and the FCA’s expectations.