Treasury written question – answered at on 16 September 2025.
Gregory Stafford
Opposition Assistant Whip (Commons)
To ask the Chancellor of the exchequer, if she will commission a review into the role of (a) Bitcoin and (b) other digital assets (i) as a reserve asset and (ii) in other future financial strategy.
Gregory Stafford
Opposition Assistant Whip (Commons)
To ask the Chancellor of the exchequer, whether she has had discussions with Cabinet colleagues on managing seized cryptocurrency assets as long-term strategic holdings rather than liquidating them.
Lucy Rigby
The Economic Secretary to the Treasury
As per responses from my predecessor, the Proceeds of Crime Act provides a clear process for the management and realisation of seized assets, while the UK's official reserves are governed by established investment principles. There are currently no plans to amend either framework or to commission a review into the potential role of Bitcoin and other digital assets as reserve assets or in a wider financial strategy.
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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.
