I thank hon. Members for their contributions. As currently envisaged, the definition successfully encompasses what it intends to today. The definition starts with the most safe, least volatile domain, which is the use of digital settlement assets. The Bill confers secondary powers, which are subject to the affirmative procedure, that allow the definition to change elastically over time. It is right that Parliament should have the opportunity to look at such changes. That achieves the balance that Members on both sides of the Committee seek. It does not rush headlong to confer legitimacy.

The hon. Member for Wallasey rightly raised the point about the energy used. The truth is that we do not know, but we all suspect that the activity is highly energy intensive. Partly due to the lack of regulation, there is no real data other than anecdotes that one hears that suggest the process is very intensive—even getting into whole percentages of world energy consumption, according to some anecdotes. That is the process of mining that things like Bitcoin and Ethereum are associated with.

A stablecoin issued by a central bank or another asset-backed vehicle would not necessarily have the attribute of mining, but I think both sides of the Committee should approach the issue with humility, because we are at the start of a potentially profound journey of change. On both sides, we wish tentatively to seize those opportunities and not, as the hon. Member for Hampstead and Kilburn said, fall behind the markets, but also to proceed cautiously. I think the Clause and this aspect of the Bill achieve that purpose.