Campaign and petition email responses

Concerns about a UK CBDC

SNP MPs have been clear that consumer protection must be at the heart of the UKG’s regulatory approach to crypto-assets.

The legal framework surrounding crypto-assets must be robust and comprehensive; a failure to cover a broad range of crypto-assets and their providers may lead to a “patchy” application of rules and weakened consumer protection.

The distributed ledger technology (DLT) that underpins crypto-assets has a number of interesting use cases, and the UKG should consider how this technology could be used to improve public services.

Beyond crypto-assets, Central Bank Digital Currencies (CBDCs) have the potential to streamline current payment systems and facilitate financial inclusion.

The UKG’s regulatory approach to crypto-assets must strike a balance between protecting consumers and enabling innovation.

SNP MPs will continue to press the UKG on these issues at Westminster.