Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of the recommendations of the Cryptoassets Taskforce's 2018 report in relation to enabling innovators in the financial sector that play by the rules to thrive.

In October 2018 HM Treasury, the Bank of England and the Financial Conduct Authority (FCA) released the final report of the Cryptoasset Taskforce.

The government continues to endorse the approach set out in the report, including its recommendations, as the right way to facilitate innovation while protecting consumers and firms. To date, a number of steps have been taken to implement the report’s recommendations, with others to follow.

For instance, the FCA has consulted and issued final guidance on the regulatory perimeter in relation to cryptoassets, and HMT has consulted on the transposition of the 5^th Anti-Money Laundering Directive (5AMLD).