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September 20, 2018 04:31 pm

Time To Regulate Bitcoin, Says UK Treasury Committee Report

Bitcoin and other cryptocurrencies are "wild west" assets that expose investors to a litany of risks and are in urgent need of regulation, MPs on the Treasury select committee have said. From a report: The committee said in a report that consumers were left unprotected from an unregulated industry that aided money laundering, while the government and regulators "bumble along" and fail to take action. The Conservative MP Nicky Morgan, the chair of the committee, said the current situation was unsustainable. "Bitcoin and other crypto-assets exist in the wild west industry of crypto-assets. This unregulated industry leaves investors facing numerous risks," Morgan said. "Given the high price volatility, the hacking vulnerability of exchanges and the potential role in money laundering, the Treasury committee strongly believes that regulation should be introduced."

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Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/A9OpsnIZv0Q/time-to-regulate-bitcoin-says-uk-treasury-committee-report

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