UK lobbyists slam gov’t report, deny crypto is like gambling
The report says that regulating UK crypto as a financial service rather than gambling may lead consumers to believe it’s safe when it’s not.
Cryptocurrency news by Protos · Protos
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Show Notes
British Members of Parliament (MPs) have claimed that crypto has “no intrinsic value and no useful social purpose” while suggesting the space may be better regulated if it’s treated more like gambling.
The report claims that regulating retail trading and investment activity in unbacked crypto assets (such as bitcoin and ether) as a financial service, will “create a ‘halo’ effect, leading consumers to believe this activity is safe and protected when it is not.”
Listen to the article to discover why MPs believe crypto should be regulated like gambling.
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