Agreeing the Withdrawal Agreement is self-evidently in our economic interest. It would bring an end to the damaging uncertainty and delay of the past years, and allow businesses to get on with taking decisions, including around recruitment and investment.<\/p>
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Approving the Withdrawal Agreement would also allow us to get on with the process of agreeing a mutually beneficial new trading relationship with our European friends - a comprehensive and ambitious free trade agreement (FTA). Leaving the Customs Union and Single Market allows the UK to pursue an ambitious FTA with the EU as sovereign equals, as well as striking trade deals with other international partners.<\/p>
<\/p>
The specifics of our own agreement will be the subject of the next phase of negotiations. We will keep Parliament updated throughout those discussions and provide analysis at appropriate points.<\/p>
<\/p>
The OBR will, of course, continue to take Government policy \u2013 including the UK\u2019s future relationship with the EU \u2013 as the basis for its economic and fiscal forecasts, and will provide its usual comprehensive analysis as part of these.<\/p>
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The Cryptoassets Taskforce, consisting of HM Treasury, the Bank of England and the Financial Conduct Authority (FCA), published its report in October 2018. It concluded that strong action should be taken to address the risks associated with cryptoassets that fall within existing regulatory frameworks, and that further consultation and international coordination is required for those cryptoassets that pose new challenges to traditional forms of financial regulation, and fall outside the existing regulatory framework.<\/p>
<\/p>
Since the report, the FCA has consulted and issued final guidance on the regulatory perimeter in relation to cryptoassets, and HMT has consulted on the transposition of the 5th Anti-Money Laundering Directive (5AMLD), which will bring cryptoasset exchanges and custodian wallet providers within the scope of anti-money laundering and counter-terrorist financing regulation.<\/p>
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