Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Financial Conduct Authority's (FCA) consultation CP19/22: Restricting the sale to retail clients of investment products that reference cryptoassets, what the evidential basis was for the statement that the FCA had seen poor outcomes from the limited products currently available on EU trading venues in relation to 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.