UK MPs Call for Crypto Regulation to Make Virtual Coin Market Secure, Sustainable
Cryptovest
Published Sep 20, 2018 12:52PM ET
Updated Sep 20, 2018 02:00PM ET
UK MPs Call for Crypto Regulation to Make Virtual Coin Market Secure, Sustainable
British MPs have urged the government and financial regulators to oversee the digital currency sector on investor protection grounds, a report by the Treasury Committee has revealed. In the report issued on Wednesday, the lawmakers claimed that introducing a regulatory framework would make the virtual coin market mature and help resolve existing problems like price volatility and fraudulent activities.
At the moment, the crypto world is a “wild west” as there are limited state tools for investor protection against hacks, scams, misleading advertisements, or pump and dump schemes. The MPs want changes in the current financial laws that will enable the Financial Conduct Authority (FCA) to oversee the virtual coin industry as now the regulator can only issue warnings.
The UK government, FCA, and the Bank of England should evalu...
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.