Question to the HM Treasury:

To ask Her Majesty's Government whether they have raised with the Bank of England, the Financial Conduct Authority, or any other regulatory authority, the question of whether crypto currencies should be classified as an investment rather than as a currency and regulated as such.

The government has established a Cryptoassets Taskforce, consisting of HM Treasury, the Bank of England, and the Financial Conduct Authority to explore these questions further. It is looking at the impact of cryptoassets, the potential benefits and challenges of the application of distributed ledger technology in financial services, and assessing what, if any, regulation is required in response. The Taskforce will report back by the end of summer.