HomeUncategorizedCrypto retail trading should be regulated as gambling: UK lawmakers By Cointelegraph

Crypto retail trading should be regulated as gambling: UK lawmakers By Cointelegraph

May 17, 2023

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The trading of so-called “unbacked cryptoassets” such as (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report.

The United Kingdom is currently working on a crypto regulatory framework that would mix existing financial asset laws with new crypto-specific rules.

Graph used by the Committee as evidence of crypto’s volatility. Source: Yahoo Finance, U.K. Parliament
Excerpt from the Fifteenth Report of Session 2022–23. Source: U.K. Parliament