Written Question·Treasury·UIN 63565

Cryptocurrencies

Tabled: 30 June 2025

Answered: 7 July 2025

Named Day

Question

Mark Garnier

To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure that stablecoin issuers maintain sufficient backing assets to protect consumers and financial stability.

Answer

Emma Reynolds

On 29 April, HM Treasury published draft legislation for the future financial services regulatory regime for cryptoassets. The draft legislation includes a new regulated activity for stablecoin issuance in the UK, meaning firms carrying on this activity w...

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