Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure that cryptocurrency exchanges operating in the UK are subject to clear and robust regulation.

On 29 April, HM Treasury published draft legislation for the future financial services regulatory regime for cryptoassets.

The draft legislation includes a new regulated activity for operating a cryptoasset trading platform, meaning firms carrying on this activity and dealing directly or indirectly with UK consumers will need to be authorised by the Financial Conduct Authority.

The Government is seeking to bring forward final legislation before the end of this year.