Member

I wish that, in the Explanatory Memorandum—and, certainly, in our discussions around this—we would have a much more explicit discussion of the risks. For example, although I take some comfort from the provisions in this SI, which limit public offerings of crypto assets, the language of the SI seems to offer the regulator huge scope and unaccountable discretion, so that what we think is a fairly limited set of permissions, under this statutory instrument, could be made much broader without any parliamentary intervention or any accountability to Parliament.