Gareth Davies

I have one question, which has come up quite a lot in the industry and perhaps even in the Minister’s previous role outside politics, and it relates to the name. It is called the cryptoasset reporting framework, but many in the outside world refer to cryptocurrency. What is the Government’s position on what a crypto is? Is it a cryptoasset or is it a cryptocurrency? What is the difference? A lot of people would appreciate that clarification on this complex subject. As I said, we do not oppose the clause; we signed up to the framework when in government.