The House committee stressed that cryptocurrencies like Bitcoin have no intrinsic value and are not conducive to useful social purposes, while they are widely used by criminals in fraud, fraud and money laundering.
Non-backup crypto assets, often called cryptocurrencies, are not supported by any underlying assets. Bitcoin and Ethereum are the most prominent forms of crypto assets, accounting for two-thirds of all crypto assets. 홀짝게임
The commission therefore concluded that the volatile nature of cryptocurrencies poses a huge risk to consumers due to the risk of related losses. And because cryptocurrency transactions, rather than financing, are more like gambling than finance, lawmakers have called on the government to look at regulations similar to gambling.
Responding to the report, MP Finance Committee Chairman Harriet Baldwin said: "The events of 2022 highlighted the risks the crypto asset industry poses to consumers, much of which is still in the West. Effective regulation is clearly needed to protect consumers from harm as well as support productive innovation in the UK's financial services industry.
"However, with no intrinsic value, high price volatility, and no obvious social goods, consumer transactions in cryptocurrencies like Bitcoin should be regulated as such because they are more like gambling than financial services. Consumers should know that all money could be lost by betting on these unsupported 'token'."