Question to the HM Treasury:

To ask His Majesty's Government how they intend to ensure consumer protection and regulatory compliance in blockchain and AI-enabled tokenised deposit models in the home-buying and mortgage markets.

The Financial Conduct Authority is responsible for the regulation of the mortgage market. All FCA-authorised firms are required to comply with the Consumer Duty, which sets high standards of consumer protections and requires firms to put their customers’ needs first.

The Ministry of Housing, Communities and Local Government is currently consulting on reforms to the home buying and selling process. The Government has made clear its objectives that reform should support faster, more reliable transactions and reduced fall throughs and risks.