Question to the HM Treasury:

To ask the Chancellor of the Exchequer, for what reason the Financial Conduct Authority's cost benefit analysis in its consultation entitled CP19/22: Restricting the sale to retail clients of investment products that reference cryptoassets did not include the benefits of Exchange Traded Notes that reference cryptoassets.

This is a matter for the Financial Conduct Authority (FCA), which is independent of government. The question has been passed to the FCA.

The FCA will reply directly to Philip Davies MP by letter. A copy of the letter will be placed in the Library of the House.