New Steps Taken for Cryptocurrencies in the UK!

United Kingdom Crypto and Digital Assets All Party Parliamentary Group (APPG) to produce a report and recommendations to share with the government. cryptocurrency announced that it has launched an investigation into the industry.

Report on Cryptocurrency to Be Prepared in the UK

The group, which includes representatives from both parties, consists of deputies and senators from the main political parties.

In a statement from APPG, it was stated that the review will focus on key policy issues related to crypto and digital assets in the UK and written applications will be accepted until 5 September.

The group seeks input from crypto operators, regulators, industry experts and government on the role of regulation, CBDCs, consumer protection and economic crime. It also plans to hold several evidence sessions in the coming months.

APPG Chairman MP Lisa Cameron said:

“When it comes to crypto and digital assets, it is vital that the UK stays on the gas and delivers on the commitments of government and regulators.”

The group will also share its findings with the Treasury Select Committee in Parliament, which has announced its own investigation into the industry.

With the spread of cryptocurrencies in 2021, many countries started to regulate in this area. Investigations into the crypto-asset market had hardened in early May, with the $40 billion ecosystem Terra and TerraUSD tokens crashing.

With the developments bitcoin and the price of other crypto assets had fallen.

*Not investment advice.

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