Fidelma O’Hagan, from the Department of Finance, said it is very difficult to identify how many people are involved in cryptocurrency by the very nature of how it is dealt with. She told the committee that according to Financial Conduct Authority (FCA) 2023 research, which stems from an online survey from 2021, found when looking at the profile of adults who own cryptocurrencies, ownership was highest in Northern Ireland and London. “It didn’t go on to say why, and that’s as much information as we were able to find,” she said. Michael Foster from the Department of Finance said the Property (Digital Assets ETC) Bill is not intended to bring about root and branch reform to financial services, or new rights or obligations to those who currently own or hold digital assets. “Somebody who has, for example, an investment in Bitcoin at the moment, is not going to find any change to their legal position on foot of this Bill,” he told MLAs.

Source: The Herald November 20, 2024 16:36 UTC