Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of introducing clearer regulatory and tax frameworks for cryptoasset investment on a) high-skilled job creation and b) assets under management.

The government recognises the transformative potential for digital assets and blockchain technologies to drive economic growth in the UK and increase efficiencies across financial markets.

That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets. This will support growth in the UK by giving cryptoasset firms the regulatory certainty needed to invest here, and to help drive innovation in our financial services sector.

The government also keeps the tax framework for cryptoassets under review.