Asked by: Gordon McKee (Labour - Glasgow South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department plans to bring forward legislative proposals to implement the cryptoasset regulatory framework.
Answered by Tulip Siddiq - Economic Secretary (HM Treasury)
The Government is committed to fostering a vibrant, competitive, and innovative financial services sector. Last October, the Treasury published detailed proposals for the financial service regulation of cryptoassets and stablecoins. The Government has been reviewing those proposals in detail and will set out details of its policy programme for cryptoassets soon.
Asked by: Gordon McKee (Labour - Glasgow South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will hold discussions with Standard Chartered on steps to help Hong Kongers with British National (Overseas) passports access their Mandatory Provident Fund (MPF) retirement savings.
Answered by Tulip Siddiq - Economic Secretary (HM Treasury)
This government is deeply committed to supporting members of the Hong Kong community who have relocated to the UK. We are aware that individuals who have chosen to take up the British National (Overseas) route are having difficulties accessing their Mandatory Provident Fund from Hong Kong.
Whilst documentary requirements for withdrawing funds are a matter for the Hong Kong authorities, officials have raised this issue directly with the Hong Kong Special Administrative Region Government and the Hong Kong MPF Schemes Authority. We have urged them to facilitate early draw down of funds as is the case for other Hong Kong residents who move overseas permanently and have made clear such discrimination of BN(O)s is unacceptable.