Bitcoin:Written question - 215986

Q
Asked by Stephen Timms
(East Ham)
[N]
Close

Named Day

'Named day' questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.

Asked on: 25 November 2014
HM Treasury
Bitcoin
Commons
To ask Mr Chancellor of the Exchequer, what assessment he has made of the ability of companies dealing with bitcoin to open a bank account.
A
Answered by: Andrea Leadsom
Answered on: 28 November 2014

Earlier this year, the Chancellor set out plans to make Britain the global centre of financial innovation, benefitting consumers and businesses, including a major programme of work looking at the benefits and risks of digital currencies, and to look into whether they could or should be regulated.

On 3 November, the Treasury published a Call for Information on digital currencies. This Call for Information asks whether there are currently barriers to digital currency businesses setting up in the UK, and the Government will consider access to UK bank accounts as part of this.

In October, the Financial Conduct Authority launched its Innovation Hub to provide support to innovative businesses. It has identified helping innovators access bank accounts as a key priority.

Grouped Questions: 215985

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