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804334
star this property registered interest false more like this
star this property date less than 2017-12-11more like thismore than 2017-12-11
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
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 assessment his Department has been made of the risks to the UK economy of the potential failure of Bitcoin and other crypto-currencies. more like this
star this property tabling member constituency Walsall North more like this
star this property tabling member printed
Eddie Hughes remove filter
star this property uin 118577 more like this
star this property answer
answer
star this property is ministerial correction false more like this
unstar this property date of answer less than 2017-12-19more like thismore than 2017-12-19
star this property answer text <p>The independent Financial Policy Committee (FPC), established by the Government, aims to ensure the UK financial system is resilient to, and prepared for, the wide range of risks it could face — so that the system could support the real economy, even in difficult conditions.</p><p> </p><p>The Bank of England continues to monitor developments, and provided its latest assessment of the risks to financial stability in the Financial Stability Report, published in November 2017.</p><p> </p><p>In addition, the Financial Conduct Authority (FCA) has stated that it will continue to monitor distributed ledger technology (DLT)-related market developments, working collaboratively with industry, HM Treasury, the Bank of England, the Information Commissioner’s Office, and other UK bodies to ensure a coordinated approach towards DLT in 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 more like this
star this property question first answered
less than 2017-12-19T15:36:16.863Zmore like thismore than 2017-12-19T15:36:16.863Z
star this property answering member
4095
star this property label Biography information for Stephen Barclay remove filter
unstar this property tabling member
4635
unstar this property label Biography information for Eddie Hughes more like this
804335
star this property registered interest false more like this
star this property date less than 2017-12-11more like thismore than 2017-12-11
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
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 assessment his Department has been made of the value to the UK economy of Bitcoin and other cryptocurrencies. more like this
star this property tabling member constituency Walsall North more like this
star this property tabling member printed
Eddie Hughes remove filter
star this property uin 118579 more like this
star this property answer
answer
star this property is ministerial correction false more like this
unstar this property date of answer less than 2017-12-19more like thismore than 2017-12-19
star this property answer text <p>The government has not made any formal assessment of the value to the UK of Bitcoin or other cryptocurrencies.</p><p> </p><p>The government is currently negotiating amendments to the European Anti-Money Laundering Directive which will extend regulation to virtual currency exchange platforms and custodian wallet providers. These amendments will enable competent authorities to ensure these firms are mitigating the risks regarding money laundering and terrorist financing, and enable the legitimate sector to grow. We expect these negotiations to conclude at EU level by early 2018, with a year for Member States to then implement the Directive.</p> more like this
star this property answering member constituency North East Cambridgeshire more like this
star this property answering member printed Stephen Barclay more like this
star this property grouped question UIN 118581 more like this
star this property question first answered
less than 2017-12-19T14:05:17.2Zmore like thismore than 2017-12-19T14:05:17.2Z
star this property answering member
4095
star this property label Biography information for Stephen Barclay remove filter
unstar this property tabling member
4635
unstar this property label Biography information for Eddie Hughes more like this
804336
star this property registered interest false more like this
star this property date less than 2017-12-11more like thismore than 2017-12-11
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
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 plans his Department has to regulate the use of cryptocurrencies in the UK. more like this
star this property tabling member constituency Walsall North more like this
star this property tabling member printed
Eddie Hughes remove filter
star this property uin 118581 more like this
star this property answer
answer
star this property is ministerial correction false more like this
unstar this property date of answer less than 2017-12-19more like thismore than 2017-12-19
star this property answer text <p>The government has not made any formal assessment of the value to the UK of Bitcoin or other cryptocurrencies.</p><p> </p><p>The government is currently negotiating amendments to the European Anti-Money Laundering Directive which will extend regulation to virtual currency exchange platforms and custodian wallet providers. These amendments will enable competent authorities to ensure these firms are mitigating the risks regarding money laundering and terrorist financing, and enable the legitimate sector to grow. We expect these negotiations to conclude at EU level by early 2018, with a year for Member States to then implement the Directive.</p> more like this
star this property answering member constituency North East Cambridgeshire more like this
star this property answering member printed Stephen Barclay more like this
star this property grouped question UIN 118579 more like this
star this property question first answered
less than 2017-12-19T14:05:17.263Zmore like thismore than 2017-12-19T14:05:17.263Z
star this property answering member
4095
star this property label Biography information for Stephen Barclay remove filter
unstar this property tabling member
4635
unstar this property label Biography information for Eddie Hughes more like this