In recent months we have seen major scandals in the cryptocurrency sector, including the concerning activities at FTX, the collapse of so-called stable coins which saw millions of British people’s savings put at risk, and a surge in crypto-related crime and scams.

That’s why I spoke in Parliament today to raise my concerns about the Government’s decision to temporarily allow unregulated cryptocurrency businesses to directly promote their products to the public. I called on Ministers to ensure that the serious risks of investing in cryptocurrencies are made absolutely clear to the public and to crack down on the scams and crime in the sector.