Treasury Committee calls for UK regulation of crypto as gambling

Warns of 'significant risks'

Elliot Gulliver-Needham
clock • 2 min read

The Treasury Committee has called on the UK's government to regulate consumer cryptocurrency trading as gambling. In a report published today (17 May), the committee warned that cryptocurrencies posed "significant risks to consumers" due to their price volatility, and that regulating them as a financial service, as proposed by the government, would lend them "unwarranted legitimacy". MPs argued that cryptocurrencies "have no intrinsic value and serve no useful social purpose", while being used for criminal activities and consuming large amounts of energy. "Given retail trading in u...

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Elliot Gulliver-Needham
Author spotlight

Elliot Gulliver-Needham

Senior Reporter at Investment Week