Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of developing an investment programme in cryptocurrency.

The UK’s foreign currency assets are held in the Exchange Equalisation Account. These assets are managed in line with the following investment principles:

• Ensuring readiness to meet the policy requirements of the reserves
• Limiting risk and volatility to avoid compromising the policy readiness of the reserves
• Maximising returns within these constraints

More detail on how the official reserves are managed can be found here:

https://www.gov.uk/government/publications/management-of-the-official-reserves--2

Given this, HM Treasury has no plans to adopt an investment programme in crypto assets.