The UK Ministry of Finance has rejected the Treasury Committee’s proposal to regulate cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) as gambling.
In the recommendation report presented to the government by the Treasury Committee of the House of Commons, the lower house of the UK parliament, last May, Bitcoin (BTC) And Ethereum (ETH) like any fiat money with unit unsupported cryptocurrencies gambling status under the arrangement of had offered.
The British Ministry of Finance responded to this report. 20 July In a document published on Treasury Committee made by cryptocurrencies trade And gambling of investments rejected the proposal to regulate it as did not attend stated.
In its response, the ministry said it was the bankrupt cryptocurrency exchange that regulated this industry as gambling. of FTX as he did misuse of user assets or encountered in the traditional financial market. insider trading And market manipulation to problems such as there will be no solution stated.
Also, the government has recently Financial Stability Board (FSB) sector, referring to its recommendations gambling from the recommendations of the global regulatory bodies of the regulation. move away described as. To this end, the government’s engagement with global regulators in a similar direction He seemed to want to make a decision.
In addition to these, the ministry replied, Department of the Treasury And Financial Conduct Authority (FCA) the sector compatibility about successful together to be will work and already in parliament to organise for one legislation on being worked on recorded.