Member

Indeed, within the US Treasury, the past few months have seen a significant strengthening of OFAC—the Office of Foreign Assets Control. This is the area to which it has turned its attention; I think that it would say to me, quite openly, that both crypto and stablecoin are very much part of that strategy. I am not sure that we are on to that or that we are recognising it. That is embedded in the thought process behind the statutory instrument.