Griffith said Baron was “not the first” to make the point that there is potential for investment trusts as a vehicle for this investment.
“One always aspires to a level playing field, I am learning rapidly that these things are never quite as simple as we seek but I understand the point,” he said.
Griffith said the government still wants the UK to be the home for a “well regulated technologically advanced financial system”, and the technology behind cryptoassets will be included in this.
“Clearly recent events [the collapse of FTX] have highlighted vulnerabilities and educated people about some of those practices that were taking place,” he said, adding that he thinks regulators have done a good job in communicating the risks around crypto.
Griffith said the government will soon establish a regime for stablecoin as a form of payment, as well as a consultation regarding the regulation of cryptoassets.
“[We want to] ensure consumers have right information by legislating for financial promotions of crypto assets.”