Cryptocurrency Trading Should Be Regulated as Gambling, Says UK Treasury Committee

Cryptocurrency Trading Should Be Regulated as Gambling, Says UK Treasury Committee
A visual representation of the Bitcoin cryptocurrency is pictured in London on May 30, 2021. Edward Smith/Getty Images
Evgenia Filimianova
Updated:

A UK government committee has suggested cryptocurrencies pose risk for consumers, serve no social purpose, consume large amounts of energy, and are used by criminals for fraud, and as such should not be regulated as financial services.

The Treasury Committee called on May 17 for unbacked crypto assets to be regulated as gambling, given their price volatility and risk of loss.
Evgenia Filimianova
Evgenia Filimianova
Author
Evgenia Filimianova is a UK-based journalist covering a wide range of national stories, with a particular interest in UK politics, parliamentary proceedings and socioeconomic issues.
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