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1678700

registered interest
date	18/12/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Cryptoassets
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of reports that many UK crypto and digital asset businesses are unable to open a UK bank account.
tabling member printed	Lord Goddard of Stockport
uin	HL1266
answer	answer is ministerial correction date of answer 21/12/2023 answer text <p>The government takes the issue of bank account access very seriously, and that is why the Chancellor asked the Financial Conduct Authority (FCA) to help us collect evidence to understand where account closures or refusals are happening and why.</p><p> </p><p>The FCA’s interim report (“UK Payment Accounts: Access and Closures”) set out areas for further consideration by government in relation to business accounts and we are continuing to explore this issue.</p><p> </p><p>HM Treasury acknowledges concerns regarding how banks’ decisions affect access to accounts and consumer payments to cryptoasset firms. However, it would not be appropriate for the government to intervene in commercial decisions taken by banks.</p><p> </p><p>The government is committed to supporting safe innovation within our financial technology sector; HM Treasury regularly engages with a range of stakeholders in the cryptoasset sector and is also progressing work on legislation to implement its proposals for the future financial services regulatory regime for cryptoassets, which will bring a number of cryptoasset activities into the regulatory perimeter for financial services for the first time.</p><p><strong> </strong></p><p><strong> </strong></p> answering member printed Baroness Vere of Norbiton grouped question UIN HL1267 HL1268 HL1269 HL1270 question first answered 21/12/2023 10:20:35 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4334 label Biography information for Lord Goddard of Stockport

1678701

registered interest
date	18/12/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Cryptoassets
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what discussions they have had with (1) the crypto and digital asset industry, and (2) the UK banking industry, regarding access to UK bank accounts for crypto and digital asset business.
tabling member printed	Lord Goddard of Stockport
uin	HL1267
answer	answer is ministerial correction date of answer 21/12/2023 answer text <p>The government takes the issue of bank account access very seriously, and that is why the Chancellor asked the Financial Conduct Authority (FCA) to help us collect evidence to understand where account closures or refusals are happening and why.</p><p> </p><p>The FCA’s interim report (“UK Payment Accounts: Access and Closures”) set out areas for further consideration by government in relation to business accounts and we are continuing to explore this issue.</p><p> </p><p>HM Treasury acknowledges concerns regarding how banks’ decisions affect access to accounts and consumer payments to cryptoasset firms. However, it would not be appropriate for the government to intervene in commercial decisions taken by banks.</p><p> </p><p>The government is committed to supporting safe innovation within our financial technology sector; HM Treasury regularly engages with a range of stakeholders in the cryptoasset sector and is also progressing work on legislation to implement its proposals for the future financial services regulatory regime for cryptoassets, which will bring a number of cryptoasset activities into the regulatory perimeter for financial services for the first time.</p><p><strong> </strong></p><p><strong> </strong></p> answering member printed Baroness Vere of Norbiton grouped question UIN HL1266 HL1268 HL1269 HL1270 question first answered 21/12/2023 10:20:35 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4334 label Biography information for Lord Goddard of Stockport

1678702

registered interest
date	18/12/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Cryptoassets
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what consideration they have given to issuing guidance to UK banks in relation to providing access to bank accounts for crypto and digital asset businesses.
tabling member printed	Lord Goddard of Stockport
uin	HL1268
answer	answer is ministerial correction date of answer 21/12/2023 answer text <p>The government takes the issue of bank account access very seriously, and that is why the Chancellor asked the Financial Conduct Authority (FCA) to help us collect evidence to understand where account closures or refusals are happening and why.</p><p> </p><p>The FCA’s interim report (“UK Payment Accounts: Access and Closures”) set out areas for further consideration by government in relation to business accounts and we are continuing to explore this issue.</p><p> </p><p>HM Treasury acknowledges concerns regarding how banks’ decisions affect access to accounts and consumer payments to cryptoasset firms. However, it would not be appropriate for the government to intervene in commercial decisions taken by banks.</p><p> </p><p>The government is committed to supporting safe innovation within our financial technology sector; HM Treasury regularly engages with a range of stakeholders in the cryptoasset sector and is also progressing work on legislation to implement its proposals for the future financial services regulatory regime for cryptoassets, which will bring a number of cryptoasset activities into the regulatory perimeter for financial services for the first time.</p><p><strong> </strong></p><p><strong> </strong></p> answering member printed Baroness Vere of Norbiton grouped question UIN HL1266 HL1267 HL1269 HL1270 question first answered 21/12/2023 10:20:35 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4334 label Biography information for Lord Goddard of Stockport

1678703

registered interest
date	18/12/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Cryptoassets
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they have plans to bring forward regulation to ensure that crypto and digital asset businesses can open a UK bank account.
tabling member printed	Lord Goddard of Stockport
uin	HL1269
answer	answer is ministerial correction date of answer 21/12/2023 answer text <p>The government takes the issue of bank account access very seriously, and that is why the Chancellor asked the Financial Conduct Authority (FCA) to help us collect evidence to understand where account closures or refusals are happening and why.</p><p> </p><p>The FCA’s interim report (“UK Payment Accounts: Access and Closures”) set out areas for further consideration by government in relation to business accounts and we are continuing to explore this issue.</p><p> </p><p>HM Treasury acknowledges concerns regarding how banks’ decisions affect access to accounts and consumer payments to cryptoasset firms. However, it would not be appropriate for the government to intervene in commercial decisions taken by banks.</p><p> </p><p>The government is committed to supporting safe innovation within our financial technology sector; HM Treasury regularly engages with a range of stakeholders in the cryptoasset sector and is also progressing work on legislation to implement its proposals for the future financial services regulatory regime for cryptoassets, which will bring a number of cryptoasset activities into the regulatory perimeter for financial services for the first time.</p><p><strong> </strong></p><p><strong> </strong></p> answering member printed Baroness Vere of Norbiton grouped question UIN HL1266 HL1267 HL1268 HL1270 question first answered 21/12/2023 10:20:36 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4334 label Biography information for Lord Goddard of Stockport

1678704

registered interest
date	18/12/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Cryptoassets
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the impact of decisions by some banks to introduce limits or restrictions on cryptocurrency transactions.
tabling member printed	Lord Goddard of Stockport
uin	HL1270
answer	answer is ministerial correction date of answer 21/12/2023 answer text <p>The government takes the issue of bank account access very seriously, and that is why the Chancellor asked the Financial Conduct Authority (FCA) to help us collect evidence to understand where account closures or refusals are happening and why.</p><p> </p><p>The FCA’s interim report (“UK Payment Accounts: Access and Closures”) set out areas for further consideration by government in relation to business accounts and we are continuing to explore this issue.</p><p> </p><p>HM Treasury acknowledges concerns regarding how banks’ decisions affect access to accounts and consumer payments to cryptoasset firms. However, it would not be appropriate for the government to intervene in commercial decisions taken by banks.</p><p> </p><p>The government is committed to supporting safe innovation within our financial technology sector; HM Treasury regularly engages with a range of stakeholders in the cryptoasset sector and is also progressing work on legislation to implement its proposals for the future financial services regulatory regime for cryptoassets, which will bring a number of cryptoasset activities into the regulatory perimeter for financial services for the first time.</p><p><strong> </strong></p><p><strong> </strong></p> answering member printed Baroness Vere of Norbiton grouped question UIN HL1266 HL1267 HL1268 HL1269 question first answered 21/12/2023 10:20:36 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4334 label Biography information for Lord Goddard of Stockport

1605363

registered interest
date	20/03/2023
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Avanti West Coast
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what is their justification for the further extension to the contract for Avanti West Coast, given its service record over the last six months.
tabling member printed	Lord Goddard of Stockport
uin	HL6623
answer	answer is ministerial correction date of answer 29/03/2023 answer text <p>Avanti West Coast (AWC) introduced a new timetable in December which amounted to an approximate 40 per cent increase in services. The first month did not see an improvement for passengers given the period of prolonged industrial action. Since then, AWC has demonstrated improvement in performance justifying an extension to October 2023, with cancellation rates falling to an average of 4.2 per cent in early March. AWC needs to do more to win back passengers with a reliable and dependable service.</p> answering member printed Baroness Vere of Norbiton question first answered 29/03/2023 12:36:27 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4334 label Biography information for Lord Goddard of Stockport