Treasury: Digital Assets

Treasury written question – answered on 23rd November 2022.

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Photo of Kenny MacAskill Kenny MacAskill Alba, East Lothian

To ask the Chancellor of the Exchequer, whether his Department has ever purchased (a) bitcoin, (b) other cryptocurrencies and (c) other digital assets.

Photo of Andrew Griffith Andrew Griffith The Economic Secretary to the Treasury

HM Treasury can disclose it has not bought or held any digital assets in the UK government official reserves. The gross official reserves, held in the Exchange Equalisation Account (EEA), are comprised of foreign currency assets (cash, bonds, and notes), gold assets and net positions of International Monetary Fund (IMF) Special Drawing Rights (SDR).Under the EEA Act 1979, the EEA may invest in cash or securities denominated in the foreign currencies represented in the IMF SDR basket.

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