Context
Industry supports the Prime Minister's vision for UK to become a cryptocurrency hub, but licensed companies face difficulties in opening bank accounts. The MP asks if Chancellor will meet the all-party group on crypto and digital assets.
Question
I, too, send my full sympathy. I also wish everyone across the House a merry Christmas. Industry has fully supported the Prime Minister's vision of the UK becoming a cryptocurrency hub, but many licensed companies are still finding it difficult to open bank accounts here. So will the Chancellor meet the all-party group on crypto and digital assets to discuss what progress can be made on digital Britain?
Answer from Jeremy Hunt
I am grateful to my hon. Friend for asking that question, because the UK, and London in particular, has become the global crypto hub. To make sure that the market can really take off in the way that was intended—in a responsible way—we need to regulate it, which is why we have introduced regulations on stablecoins and on the promotion of crypto services. My hon. Friend the Economic Secretary to the Treasury would be more than happy to meet her.
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