The Treasury Committee has called on the government and the FCA to take responsibility for the regulation of the cryptocurrency market, describing the "ambiguity" of their position as unsustainable.
In a report released on Wednesday (19 September), the Treasury Committee singled out the notable risk posed to retail investors by crypto-assets such as bitcoin, highlighting a lack of "inherent value", "market fundamentals", volatility and safekeeping concerns, as well as the potential for fraud and money laundering. Commenting on the report, Chair of the Treasury Committee Nicky Morgan MP (pictured) said: "Bitcoin and other crypto-assets exist in the Wild West industry of crypto-assets. This unregulated industry leaves investors facing numerous risks. "Given the high price volatilit...
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