Question to the Department for Education:

To ask the Secretary of State for Education, what steps the Government is taking to educate young people on crypto currencies.

Education on financial matters helps to ensure that young people are prepared to manage their money well, make sound financial decisions and know where to seek further information when needed. Pupils receive financial education through the national curriculum for mathematics and citizenship which, for secondary school-aged pupils, includes compulsory content covering the functions and uses of money, financial products and services, and the need to understand financial risk.

Schools have flexibility over how they design their curricula, and can tailor it to the needs of their pupils. The Money and Pensions Service published financial education guidance for primary and secondary schools in England during Talk Money Week (8-12 November 2021), an annual event that encourages people of all ages to talk about money. I provided a supportive foreword for the guidance, which was developed in consultation with financial education experts and is designed to support school leaders and education decision makers to enhance the financial education currently delivered in their schools. The guidance includes links to quality assured resources for schools, including specific content and activities on cryptocurrencies. It also sets out the knowledge and skills pupils need to protect their personal data, critically evaluate online content and identify scams. The guidance is available to view here: https://maps.org.uk/2021/11/11/financial-education-guidance-for-primary-and-secondary-schools-in-england/.

There are also other opportunities across the national curriculum to teach pupils about cryptocurrencies. For example, the computing curriculum teaches the fundamental knowledge and skills that support pupils to make well-informed choices about technology. It covers the principles of e-safety at all key stages, with progression in the content to reflect the different and escalating risks that young people face. The computing curriculum is available to view here: https://www.gov.uk/government/publications/national-curriculum-in-england-computing-programmes-of-study.

The department will continue to work closely with the Money and Pensions Service and other stakeholders such as Her Majesty's Treasury, to support the teaching of financial education to children and young people, including novel financial products.