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1462519

	registered interest
	date	12/05/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate he has made of the number of UK adults who have money held on crypto exchanges.
	tabling member constituency	Hampstead and Kilburn
	tabling member printed	Tulip Siddiq
	uin	1254
	answer	answer is ministerial correction date of answer 19/05/2022 answer text <p>The Financial Conduct Authority (FCA) published consumer research in June 2021, which offered insight into the cryptoassets market in the UK. The FCA found that 4.4% of UK adults currently hold cryptocurrency, or approximately 2.3 million consumers. The FCA also found that the median value of holdings of crypto owners was £300, and 47% of crypto owners (who chose to declare their holdings) had £260 or less in crypto.</p><p> </p><p>Additionally, the FCA explored consumers’ reasons for buying cryptocurrencies and found that 38% of crypto users bought their cryptocurrencies “as a gamble to make or lose money”. This reasoning was down 9 percentage points on 2020, where 47% of users bought their cryptocurrencies “as a gamble”.</p><p> </p><p>The Cryptoasset Taskforce – HM Treasury, the Bank of England, the FCA and the Payment Systems Regulator (PSR) – continues to monitor ongoing development in cryptoasset markets, and is taking forward a number of regulatory initiatives to manage risks and support innovation.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 1256 1257 question first answered 19/05/2022 07:37:48 answering member 4051 label Biography information for John Glen
	tabling member	4518 label Biography information for Tulip Siddiq

1462524

	registered interest
	date	12/05/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate he has made of the average value of the money held by UK adults on crypto exchanges.
	tabling member constituency	Hampstead and Kilburn
	tabling member printed	Tulip Siddiq
	uin	1256
	answer	answer is ministerial correction date of answer 19/05/2022 answer text <p>The Financial Conduct Authority (FCA) published consumer research in June 2021, which offered insight into the cryptoassets market in the UK. The FCA found that 4.4% of UK adults currently hold cryptocurrency, or approximately 2.3 million consumers. The FCA also found that the median value of holdings of crypto owners was £300, and 47% of crypto owners (who chose to declare their holdings) had £260 or less in crypto.</p><p> </p><p>Additionally, the FCA explored consumers’ reasons for buying cryptocurrencies and found that 38% of crypto users bought their cryptocurrencies “as a gamble to make or lose money”. This reasoning was down 9 percentage points on 2020, where 47% of users bought their cryptocurrencies “as a gamble”.</p><p> </p><p>The Cryptoasset Taskforce – HM Treasury, the Bank of England, the FCA and the Payment Systems Regulator (PSR) – continues to monitor ongoing development in cryptoasset markets, and is taking forward a number of regulatory initiatives to manage risks and support innovation.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 1254 1257 question first answered 19/05/2022 07:37:50 answering member 4051 label Biography information for John Glen
	tabling member	4518 label Biography information for Tulip Siddiq

1462533

	registered interest
	date	12/05/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate he has made of the average value of the money held by UK adults on crypto exchanges who give their reason for buying cryptocurrencies as a gamble that could make or lose money.
	tabling member constituency	Hampstead and Kilburn
	tabling member printed	Tulip Siddiq
	uin	1257
	answer	answer is ministerial correction date of answer 19/05/2022 answer text <p>The Financial Conduct Authority (FCA) published consumer research in June 2021, which offered insight into the cryptoassets market in the UK. The FCA found that 4.4% of UK adults currently hold cryptocurrency, or approximately 2.3 million consumers. The FCA also found that the median value of holdings of crypto owners was £300, and 47% of crypto owners (who chose to declare their holdings) had £260 or less in crypto.</p><p> </p><p>Additionally, the FCA explored consumers’ reasons for buying cryptocurrencies and found that 38% of crypto users bought their cryptocurrencies “as a gamble to make or lose money”. This reasoning was down 9 percentage points on 2020, where 47% of users bought their cryptocurrencies “as a gamble”.</p><p> </p><p>The Cryptoasset Taskforce – HM Treasury, the Bank of England, the FCA and the Payment Systems Regulator (PSR) – continues to monitor ongoing development in cryptoasset markets, and is taking forward a number of regulatory initiatives to manage risks and support innovation.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 1254 1256 question first answered 19/05/2022 07:37:50 answering member 4051 label Biography information for John Glen
	tabling member	4518 label Biography information for Tulip Siddiq