Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he is working with the Financial Conduct Authority to ensure that its proposed approach to decentralised finance does not reduce innovation by restricting access to DeFi protocols.

The Government's objective is to deliver a UK cryptoasset regime that appropriately balances the protection of consumers from detriment with a regulatory environment that supports innovation and growth. The Government continues its close engagement with the Financial Conduct Authority to that end.