We recognise the benefits that cryptoassets and their underlying technology may offer to financial services and will continue to encourage innovation and support competition in consumers interests. However, like in other areas, different types of cryptoasset activities and business models bring different risks of harm for consumers and markets. Furthermore, we have continued to warn consumers of the risks of investments advertising high returns based on cryptoassets, making clear that they should be prepared to lose all their money. Ultimately, the scope of our regulatory perimeter is a matter for the Government and we are working with them to inform thinking on any further regulatory or legislative actions that may be required to mitigate risks which are not covered by existing regulation.