I can hear voices challenging that, asking, “So a little bit of crime is okay?” We need to recognise a point similar to those made by Members across the Chamber about crypto. The world is changing. We have very significant and onerous duties for opening a UK bank account and proving our identity, but we live in a world where more organisations are coming to the market and saying, “We can provide you with that document, but without the need to meet any of those standards,” in exactly the same way as people are using crypto to transfer money around without the audit trail that we see with other forms of financial transactions. We need to make sure that our electoral system meets the test and that we can identify those exercising their vote in that way.
Does David Simmonds Support Crypto?
Based on previous comments, David Simmonds has indicated they are very pro-cryptocurrency. Below you can view the tweets, quotes, and other commentary David Simmonds has made about crypto.
Quoted from hansard.parliament.uk on 2026-03-02
Quoted from hansard.parliament.uk on 2022-09-07
A key part of that is ensuring that we futureproof the regulation of financial services in the UK. There has been much mention of crypto, but I would like to add the need to ensure that non-regulated activity undertaken by regulated institutions requires scrutiny.
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This statement takes a neutral and governance-focused stance, acknowledging crypto in the broader context of futureproofing financial regulation. It highlights the need for oversight of unregulated activities, especially when conducted by regulated institutions, without singling out crypto as inherently problematic.