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<p>Treasury Ministers and officials have meetings with a wide variety of organisations
in the public and private sectors as part of the process of policy development and
delivery.</p><p> </p><p>The Cryptoasset Taskforce, comprising HM Treasury, the Bank
of England, the Financial Conduct Authority (FCA), and the Payment Systems Regulator
(PSR), continues to monitor ongoing development in cryptoasset markets, and is taking
forward a range of regulatory measures to mitigate market integrity risks, protect
consumers and support innovation in the cryptoasset market.</p><p> </p><p>Since January
2020, cryptoasset firms operating in the UK have been subject to the Money Laundering
Regulations. To protect consumers, on 18 January 2022, the government set out its
intention to legislate later this year to bring certain cryptoassets into financial
promotion regulation. This would ensure that relevant cryptoasset promotions are held
to the same high standards for fairness, clarity and accuracy that exist in the financial
services industry. Additionally, on the 20 July, the government introduced the Financial
Services and Markets Bill, which includes a measure allowing HM Treasury to bring
stablecoins, where used as a means of payment, within the UK regulatory perimeter.</p><p>
</p><p>The government has committed to consult later this year on the broader regulation
of cryptoassets.</p>
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