Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, what recent assessment she has made of the potential impacts of cryptoasset schemes promoted by the sporting industry on consumers.

The Government has noted a growing market of partnerships between sports bodies and crypto asset businesses.

The variety of crypto asset products is wide and evolving. We have always encouraged innovation in sports markets but this must be done with the interests of fans in mind and must be transparent on risks.

My officials have discussed cryptoassets in conversations with the Premier League, the English Football League and the Treasury.

As I stated in the recent Westminster Hall Debate on this issue, the government will continue to monitor the use and promotion of cryptoassets in sport and will factor this into considerations around the wider cryptoasset market and its regulation.