Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the total value of money held by UK adults on crypto exchanges.

The Financial Conduct Authority (FCA) published consumer research in June 2021, which offered insight into the cryptoassets market in the UK. The FCA found that 4.4% of UK adults currently hold cryptocurrency, or approximately 2.3 million consumers.

The Cryptoasset Taskforce – HM Treasury, the Bank of England, the FCA and the Payment Systems Regulator (PSR) – continues to monitor ongoing development in cryptoasset markets, and is taking forward a number of regulatory initiatives to manage risks and support innovation.