UK Parliament Calls Crypto “Wild West”, Insisting On Regulation ASAP: Report

A group of UK Treasury committee members has issued a report called digital coins sector ‘wild west.’ According to the document, the crypto market is unregulated

Wed, 19/09/2018 - 9:52

UK Parliament Calls Crypto “Wild West”, Insisting On Regulation ASAP: Report

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A group of UK Treasury committee members has issued a report in which it called the electronic coins sector ‘wild west.’ According to the document, the crypto market is utterly unregulated, threatens investors with high volatility, security bugs and lacks legal protection.

The MPs urge the Parliament to choose if they want to let this sphere develop or suppress it and implement regulatory measures correspondingly.

They mention that the UK meets all conditions for turning into a global crypto hub.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.