My hon. Friend is right to be concerned about new challenges in relation to crypto, and I refer him to my previous answer on this point. We will look very closely at these issues to make sure that loopholes are closed, but I reassure him that the current powers cover donations through crypto and the changes we are making will also include crypto.
Is it right that millions of UK investors are investing in crypto-assets if, in your own words, they do not understand the key differences between stablecoins and fiat currency? What should be done about it?
This statement expresses doubt and concern about the suitability of cryptoasset investing for retail investors, particularly due to lack of understanding around critical distinctions like stablecoins vs. fiat. While it doesn't outright reject crypto, it clearly challenges its current accessibility and consumer readiness, suggesting regulatory or educational intervention is needed.