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778762
star this property registered interest false more like this
star this property date less than 2017-10-27more like thismore than 2017-10-27
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Financial Services: Technology more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, to which countries he has made representations in respect of building FinTech bridges. more like this
star this property tabling member constituency Islwyn more like this
star this property tabling member printed
Chris Evans remove filter
star this property uin 110116 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2017-11-03more like thismore than 2017-11-03
star this property answer text <p>FinTech, including opportunities for collaboration in this area, forms a key part of the UK’s bilateral financial services discussions. The UK currently has four FinTech Bridges – with Singapore, the Republic of Korea, China, and Hong Kong.</p><p> </p> more like this
star this property answering member constituency North East Cambridgeshire more like this
star this property answering member printed Stephen Barclay remove filter
star this property question first answered
less than 2017-11-03T12:48:48.103Zmore like thismore than 2017-11-03T12:48:48.103Z
star this property answering member
4095
star this property label Biography information for Steve Barclay more like this
star this property tabling member
4040
unstar this property label Biography information for Chris Evans more like this
778761
star this property registered interest false more like this
star this property date less than 2017-10-27more like thismore than 2017-10-27
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Financial Services: Technology more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what recent assessment his Department has made of the benefits of FinTech to the UK economy. more like this
star this property tabling member constituency Islwyn more like this
star this property tabling member printed
Chris Evans remove filter
star this property uin 110112 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2017-11-06more like thismore than 2017-11-06
star this property answer text <p>Fintech offers a significant growth opportunity for the UK economy, providing new jobs, and delivering benefits to consumers through increased competition and innovation in financial services.</p><p> </p><p>The Fintech sector contributes £6.6bn annually to the economy, employing 60,000 people across 1,600 companies.</p><p> </p><p>The government’s ambition is for the UK to consolidate its world-leading position in FinTech and to become the leading global hub for financial innovation. In recent months I have held a roundtable with FinTech firms to discuss how to maximise opportunities for the sector and recently met the regional FinTech envoy to Scotland to discuss the benefits FinTech can offer across the UK.</p> more like this
star this property answering member constituency North East Cambridgeshire more like this
star this property answering member printed Stephen Barclay remove filter
star this property question first answered
less than 2017-11-06T11:54:49.58Zmore like thismore than 2017-11-06T11:54:49.58Z
star this property answering member
4095
star this property label Biography information for Steve Barclay more like this
star this property tabling member
4040
unstar this property label Biography information for Chris Evans more like this
809009
star this property registered interest false more like this
star this property date less than 2017-12-18more like thismore than 2017-12-18
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Money Laundering: Cryptocurrencies more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, whether under the 4th Money Laundering Directive there are minimum transaction thresholds below which customer due diligence is not required for trade and investment in digital currencies. more like this
star this property tabling member constituency Islwyn more like this
star this property tabling member printed
Chris Evans remove filter
star this property uin 120118 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2017-12-21more like thismore than 2017-12-21
star this property answer text <p>The European Union's Fourth Anti Money Laundering Directive (4MLD) was implemented into UK legislation by 'The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017', which came in to force on 26 June 2017. Digital currency exchanges are not regulated for the purposes of 4MLD, so there is no requirement to undertake Customer Due Diligence for trade and investment in digital currencies at present.</p><p> </p><p>The government has however committed to bringing digital currencies into the scope of anti-money laundering and counter terrorist financing (AML/CTF) regulation. Provisional political agreement has recently been reached at EU-level to amend 4MLD to bring digital currency exchange platforms and custodian wallet providers into the AML/CTF regime.</p><p> </p><p>These amendments will require Member States to oblige these entities to conduct customer due diligence when establishing a business relationship, when carrying out occasional transactions of €15,000 or more, when carrying out a transfer of funds exceeding €1,000, where there is a suspicion of money laundering or terrorist financing, and when there are doubts about the veracity or adequacy of previously obtained customer identification data.</p>
star this property answering member constituency North East Cambridgeshire more like this
star this property answering member printed Stephen Barclay remove filter
star this property question first answered
less than 2017-12-21T11:51:14.047Zmore like thismore than 2017-12-21T11:51:14.047Z
star this property answering member
4095
star this property label Biography information for Steve Barclay more like this
star this property tabling member
4040
unstar this property label Biography information for Chris Evans more like this
809006
star this property registered interest false more like this
star this property date less than 2017-12-18more like thismore than 2017-12-18
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Cryptocurrencies more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what the value of assets held by the Government in digital currencies is. more like this
star this property tabling member constituency Islwyn more like this
star this property tabling member printed
Chris Evans remove filter
star this property uin 120115 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2017-12-20more like thismore than 2017-12-20
star this property answer text <p>The Government does not have any holdings of digital currencies.</p> more like this
star this property answering member constituency North East Cambridgeshire more like this
star this property answering member printed Stephen Barclay remove filter
star this property question first answered
less than 2017-12-20T17:00:24.013Zmore like thismore than 2017-12-20T17:00:24.013Z
star this property answering member
4095
star this property label Biography information for Steve Barclay more like this
star this property tabling member
4040
unstar this property label Biography information for Chris Evans more like this
809008
star this property registered interest false more like this
star this property date less than 2017-12-18more like thismore than 2017-12-18
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Deposits: Cryptocurrencies more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, whether the Government plans to introduce deposit guarantee protections for consumers holding digital currencies. more like this
star this property tabling member constituency Islwyn more like this
star this property tabling member printed
Chris Evans remove filter
star this property uin 120117 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2017-12-21more like thismore than 2017-12-21
star this property answer text <p>The Government has no current plans to introduce deposit guarantee protections for consumers holding digital currencies, but keeps all policy under review.</p> more like this
star this property answering member constituency North East Cambridgeshire more like this
star this property answering member printed Stephen Barclay remove filter
star this property question first answered
less than 2017-12-21T11:02:53.223Zmore like thismore than 2017-12-21T11:02:53.223Z
star this property answering member
4095
star this property label Biography information for Steve Barclay more like this
star this property tabling member
4040
unstar this property label Biography information for Chris Evans more like this
778760
star this property registered interest false more like this
star this property date less than 2017-10-27more like thismore than 2017-10-27
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Cryptocurrencies: Regulation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what steps his Department is taking to regulate (a) Bitcoin and (b) other crypto-currencies. more like this
star this property tabling member constituency Islwyn more like this
star this property tabling member printed
Chris Evans remove filter
star this property uin 110111 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2017-11-03more like thismore than 2017-11-03
star this property answer text <p>The UK government is currently negotiating amendments to the 4th Anti-Money Laundering Directive that will bring virtual currency exchange platforms and custodian wallet providers into Anti-Money Laundering and Counter-Terrorist Financing regulation, which will result in these firms’ activities being overseen by national competent authorities for these areas. The government supports the intention behind these amendments. We expect these negotiations to conclude at EU level in late 2017/early 2018.</p> more like this
star this property answering member constituency North East Cambridgeshire more like this
star this property answering member printed Stephen Barclay remove filter
star this property question first answered
less than 2017-11-03T12:45:08.467Zmore like thismore than 2017-11-03T12:45:08.467Z
star this property answering member
4095
star this property label Biography information for Steve Barclay more like this
star this property tabling member
4040
unstar this property label Biography information for Chris Evans more like this