UK Lawmakers Propose Regulating Crypto as a Form of Gambling
The post UK Lawmakers Propose Regulating Crypto as a Form of Gambling appeared first on Coinpedia Fintech News
Bitcoin, ether, and other cryptocurrencies should be regulated as gambling because they may be exploited by fraudsters and pose considerable dangers to consumers, according to a panel of UK legislators in a study released on Wednesday. The country is drafting its first crypto rules to comply with anti-money laundering safeguards. According to the Parliament Report, BTC and ETH make up two-thirds of all crypto assets, leading to price instability and total loss of invested money. The report says, classifying retail trading and crypto investments as gambling may be safer than regulating them.
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