City Minister gives evidence on crypto and Edinburgh Reforms
The Treasury Committee hears from Andrew Griffith, Economic Secretary to the Treasury, on crypto-assets and the Government’s ‘Edinburgh reforms’ to financial services at 9.45am on Tuesday 10 January.
Meeting details
MPs explore the Government’s plans to make the UK a global hub for crypto, while exploring the potential benefits and risks of crypto assets for businesses and consumers.
Potential topics include the likely approach to the taxation and regulation of crypto activity, and the Government’s views on central bank digital currencies, stablecoins, and non-fungible tokens (NFTs).
The Committee is also likely to discuss the potential risks of Government policy lending credibility to some parts of the industry given the events of 2022, including the collapse of cryptocurrency exchange FTX.
Last year’s ‘Edinburgh Reforms’ to financial services announcement will also be discussed at the session, with the Minister’s views likely to be sought on how far the reforms will stimulate the UK economy.
Areas of discussion could include the pros and cons of changes to ring-fencing rules separating retail from investment banking, to the accountability regime for senior managers, and the repeal of the bankers’ bonus cap.