Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential impact of the Financial Conduct Authority's proposed added value test in the Cryptoasset Permitter Guidance on the development of UK decentralised finance infrastructure.

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.