APPG Calls for Rapid Action on UK Crypto Regulation
Gurinder Singh Josan CBE MP, Co-Chair of Parliament’s Crypto & Digital Assets All-Party Parliamentary Group (APPG), supported by CryptoUK as secretariat, has called on the Government to move quickly to establish a comprehensive UK regulatory regime for cryptoassets.
Speaking in Parliament last week, Mr Josan noted that more than 8 million people in the UK now hold cryptoassets and said the UK still has the potential to be a world leader in digital finance – urging Ministers to ensure regulation both supports innovation and protects consumers.
He told Parliament:
“Cryptocurrencies and digital assets are held by an increasing number of UK citizens – over 8 million people, according to recent figures – and the UK has the potential to be a world leader in this field, supporting our growth mission. Can the Minister detail what steps he has taken to ensure that we rapidly put in place a regulatory regime that gives confidence to the industry to develop and to companies to be based in the UK, while providing protection for consumers?”
Responding for the Government, Dan Jarvis, Security Minister at the Home Office, thanked the APPG for its work in highlighting the importance of the sector and said financial services are central to the Government’s economic growth mission.
The Minister confirmed that the Government is proceeding with proposals to create a new financial services regulatory regime for cryptoassets, aimed at ensuring the UK remains competitive while maintaining appropriate consumer safeguards.
To find out more about the APPG or to get involved, please get in touch via the contact form on the APPG page.
