Parliamentary Search

Written question asked by Lizzi Collinge (Labour) on Monday, 7 September 2026, in the House of Commons. It was due for an answer on Wednesday, 9 September 2026. It was answered by Lucy Rigby (Labour) on Wednesday, 9 September 2026 on behalf of the Treasury.

Cryptoassets: Cybersecurity

Question

To ask the Chancellor of the Exchequer, what assessment his Department has made of the adequacy of cybersecurity requirements applying to hardware wallets used to store private keys for cryptoassets.

Answer

The Government legislated in February of this year to establish a financial services regulatory regime for cryptoassets. This regime requires firms to be authorised by the Financial Conduct Authority (FCA) where they are undertaking regulated activities in or to the UK. The new regulated activities include safeguarding cryptoassets that are in scope of the regime, and this extends to private keys. Firms authorised by the FCA must meet robust standards, including on risk management, operational resilience, and financial crime controls.

Secondary information

Type
Written question
Reference
27818
Session
2026-27
Transferred
Yes
Subjects
Cybersecurity Cryptoassets
Link
View this Written question on www.parliament.uk