The UK Treasury Committee has described trading non-asset-backed cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) as gambling.
The Treasury Committee, in its report published on its official website on May 17, stated that although the UK government treats cryptocurrencies as a regulated financial instrument, BTC And ETH by any entity such as unsupported any cryptocurrencies intrinsic value claimed it wasn’t.
In the report, price volatility And risk of loss Considering that cryptocurrencies are for consumers has high risk voicing committee, related cryptocurrencies. of trade One from investment action He said it was very much like gambling. The Committee may also be unsupported crypto assets financial service regulated as before the investors Creating a Halo Effect against the industry in general trust or insecurity It was stated that there was concern that it might create the situation.
Approximate size of UK resident adults 10% of existing or in the past to crypto assets have invested revealing committee, in this context policy regulation implied that it would be important.
Also, the government Royal Mint NFT as in the project open And useful an area of use does not offer on the crypto-asset sector support activities in have for public resources as much as possible from the use of to be avoided was stated to be necessary.
committee chairman Harriet Baldwin The events of the past year are still big One without editing part remote cryptocurrency market investors for has risks He stated that he did it again. In addition, investors’ investments in this market that you can lose all drawing attention to this feature of the market more highlighting implied it was necessary.
Cryptocurrency lobby in response to criticism in the report CryptoUK Board Advisor Ian Taylor He made the following statements on the subject:
We are both worried and disappointed by these useless, false and baseless claims. These statements do not reflect the true nature, purpose and potential of the cryptocurrency industry.
In a previous statement, the Bank of England (BoE) said, cryptocurrencies unqualified criminal devices had defined.