Crypto trading in UK should be regulated as gambling, lawmakers say
UK authorities should regulate crypto trading as a form of gambling rather than a financial service, UK Parliament's Treasury Committee said.
Like gambling, crypto trading and investing can be addictive, while betting on the volatile price of cryptocurrencies can cause consumers to lose all their money, MPs concluded.
The Treasury Committee seemingly opposed the government's proposal to treat crypto as regulated financial activities.
The Committee is concerned that the government's proposal would create a "halo" effect, leading consumers to believe that "this activity is safe and protected, when it is not," the report said.
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