Agenda item

A report of the Direction of Innovation and Growth.

Members received a report of the Director of Innovation and Growth, following which the following issue was discussed:

A question was raised as to what stance Innovation and Growth took on government legislation in relation to digital and crypto assets given the ongoing dialogue between the Financial Conduct Authority (FCA) and the Government. In response, officers advised that they continued to work very closely with both the FCA – which had also been the case on the Digital Sandbox pilot – as well as with government on innovation, particularly from the position of the new Centre for Finance, Innovation and Technology. In terms of crypto assets, whilst there was no specific liaison with the FCA on that topic, Innovation and Growth were kept informed as to progress, particularly in relation to remaining updated as to what the government was doing through its CBDC task force and its different engagement groups.

RESOLVED, that:

the update be noted.