Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that the Financial Conduct Authority's proposed perimeter guidance on cryptoassets does not treat developers and maintainers of decentralised finance protocols as regulated financial intermediaries.

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.