Question to the HM Treasury:

To ask Her Majesty's Government what plans they have to discuss an approach to crypto-asset regulation with other countries and international bodies.

As set at out Fintech Week in April, the UK is committed to establishing a world-leading regulatory regime for cryptoassets. Given the cross-border nature of cryptoassets, the UK is committed to working with other jurisdictions and through the international standard-setting bodies to support harmonisation of treatment as far as is feasible.

HM Treasury is engaging extensively with international partners on cryptoasset regulation on a bilateral basis. For example, HM Treasury hosted the Regulatory Pillar of the Financial Innovation Partnership with the US Treasury in June. Attendees exchanged views on cryptoasset regulation and market developments, including recent developments in relation to stablecoins and the exploration of central bank digital currencies (CBDCs).

The UK is also active in international work on cryptoassets being carried out through global fora, including the G7, G20, OECD, IMF and the Financial Stability Board (FSB).