Treasury written question – answered at on 29 April 2025.
Andrew Rosindell
Shadow Parliamentary Under Secretary (Foreign, Commonwealth and Development Affairs)
To ask the Chancellor of the exchequer, what steps her Department is taking to help attract attract inward investment into the (a) cryptocurrency and (b) digital assets sector.
Andrew Rosindell
Shadow Parliamentary Under Secretary (Foreign, Commonwealth and Development Affairs)
To ask the Chancellor of the exchequer, what assessment her Department has made of the potential impact of regulating the (a) crypto and (b) digital asset sector on the economy.
Andrew Rosindell
Shadow Parliamentary Under Secretary (Foreign, Commonwealth and Development Affairs)
To ask the Chancellor of the exchequer, what steps she is taking with Cabinet colleagues to help ensure that the UK is competitive with overseas jurisdictions in relation to (a) crypto and (b) digital asset regulation.
Emma Reynolds
The Economic Secretary to the Treasury
HM Treasury is proceeding with plans to deliver a new financial services regulatory regime for cryptoassets as soon as practicable this year. This will support UK growth by giving cryptoasset firms the regulatory certainty needed to invest here, and drive innovation in our financial services sector.
In developing the regime, the Government has sought to strike the right balance between attracting business to the UK while facilitating the UK’s access to global markets.
HM Treasury will publish full impact assessments alongside its final legislation.
Yes2 people think so
No1 person thinks not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
The cabinet is the group of twenty or so (and no more than 22) senior government ministers who are responsible for running the departments of state and deciding government policy.
It is chaired by the prime minister.
The cabinet is bound by collective responsibility, which means that all its members must abide by and defend the decisions it takes, despite any private doubts that they might have.
Cabinet ministers are appointed by the prime minister and chosen from MPs or peers of the governing party.
However, during periods of national emergency, or when no single party gains a large enough majority to govern alone, coalition governments have been formed with cabinets containing members from more than one political party.
War cabinets have sometimes been formed with a much smaller membership than the full cabinet.
From time to time the prime minister will reorganise the cabinet in order to bring in new members, or to move existing members around. This reorganisation is known as a cabinet re-shuffle.
The cabinet normally meets once a week in the cabinet room at Downing Street.
