Question to the HM Treasury:

To ask Her Majesty's Government what plans they have to create a bespoke regulatory framework for the UK cryptoasset sector.

At Fintech Week 2022, the Government set out our firm ambition to make Britain a global hub for cryptoasset technology and investment. The UK is committed to creating a regulatory environment in which firms can innovate, while crucially maintaining financial stability and regulatory standards so that people can use new technologies both reliably and safely.

The UK is taking a dynamic approach to engagement with the industry, and the government has committed to consult later this year on the broader regulation of cryptoassets, as part of a staged approach to developing a world-leading regime for cryptoasset activities.