UK Treasury slams ‘Wild West’ crypto trade, calls for regulation


Members of the UK Parliament are looking to increase regulations for the cryptocurrency industry, in order to tame the “Wild West situation,” according to a Treasury committee report.

“Crypto‐assets have been embedded in certain pockets of society and industry, and it is highly likely that they are here to stay. The UK Government and financial services regulators appear to be deciding whether they will allow the current ‘Wild West’ situation to continue, or whether they are going to introduce regulation. The current ambiguity surrounding the Government’s and the regulators’ positions is clearly not sustainable,” the committee said.

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