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1037836

registered interest
date	08/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Distributed Ledger Technology
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what (a) fiscal and (b) regulatory steps his Department is taking to (i) support UK and (ii) encourage overseas blockchain and crypto-based companies establish themselves in the UK.
tabling member constituency	Walsall North
tabling member printed	Eddie Hughes
uin	206446
answer	answer is ministerial correction date of answer 11/01/2019 answer text <p>The Government has invested over £10 million through Innovate UK and the research councils to support a wide variety of DLT related projects. The Government has also created a £20 million GovTech Catalyst Fund to explore technology-based solutions for public sector challenges, potentially including the use of DLT.</p><p> </p><p>The Government set out its approach to cryptoassets and the underlying distributed ledger technology (DLT) in the report of the Cryptoassets Taskforce<sub><sub>[1]</sub></sub>. The Government wants to encourage responsible development of legitimate distributed ledger technology (DLT) and cryptoasset-related activity in the UK, while also mitigating risks.</p><p> </p><p>The financial regulators continue to provide a platform that facilitates innovation and the development of new technologies in the financial system. For example, the Financial Conduct Authority has accepted a significant number of DLT-based projects into its Regulatory Sandbox. The Bank of England has also committed to ensure that its new RTGS service will be compatible with DLT-based payment systems.</p><p>[1] The full report of the HM Treasury/Financial Conduct Authority/Bank of England Cryptoassets Taskforce is available here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf</p> answering member constituency Salisbury answering member printed John Glen question first answered 11/01/2019 11:18:43 answering member 4051 label Biography information for John Glen
tabling member	4635 label Biography information for Eddie Hughes

999262

registered interest
date	31/10/2018
answering body	Department for Digital, Culture, Media and Sport
answering dept id	10
answering dept short name	Digital, Culture, Media and Sport
answering dept sort name	Digital, Culture, Media and Sport
hansard heading	Distributed Ledger Technology
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Digital, Culture, Media and Sport, when he plans to announce which projects will be run by DLT Field Labs to test the potential of distributed ledger technologies.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	186288
answer	answer is ministerial correction date of answer 07/11/2018 answer text <p>As was announced at Budget 2018, the Digital Catapult will test the potential of their Field Labs concept, a small experimental trial of Distributed Ledger Technology, working with businesses, investors, and regulators, in a range of areas. We anticipate the first Field Labs will focus on the construction sector and the management of goods in ports.</p><p>The Digital Catapult, while receiving significant long-term funding from the government, is an independent private sector entity. The specific arrangements of the Field Labs, including their participants, focuses, and timing, are therefore a commercial and private decision for the management of the Digital Catapult to take, and we expect it to set out further details in due course.</p> answering member constituency Stourbridge answering member printed Margot James question first answered 07/11/2018 12:04:53 answering member 4115 label Biography information for Margot James
tabling member	1586 label Biography information for Adam Afriyie