Question to the Cabinet Office:

To ask the Minister for the Cabinet Office, what assessment he has made of the potential impact of dynamic alignment with the EU on (a) AI and (b) crypto regulation.

The UK is committed to harnessing the potential of AI to support growth and innovation. We face similar challenges to the EU and are cooperating on AI under the Trade and Co-operation Agreement.

The government’s ambition is to make the UK a global destination for digital assets, including through a competitive regulatory regime for cryptoassets that balances protecting consumers with allowing innovative firms to invest and grow. We consider that it is in the UK’s national interest to retain the ability to make the rules which govern our financial services sector – supporting open, globally competitive markets while safeguarding financial stability. However, we regularly discuss our respective approaches through the EU-UK Financial Regulatory Forum.