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“This latest Treasury Select Committee report goes against the grain,” Mark Foster, the Crypto Council for Innovation’s European Union (EU) policy lead, told CryptoX. “It misunderstands and misrepresents digital assets. There are practical use cases around remittances, payments and pathways for greater financial inclusion.” Source
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Self-regulatory organization CryptoUK and crypto exchange Kraken UK has slammed a recent report from a panel of British lawmakers that suggested crypto should be regulated in a similar vein to gambling.In a May 17 report, the Treasury Committee “strongly recommended” that unbacked crypto be regulated as gambling due to concerns
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The treasury select committee, a prominent cross-party group of U.K. lawmakers, has released a report suggesting that retail investing in unbacked cryptocurrencies, such as bitcoin, should be regulated similarly to gambling. In their findings published on
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The trading of so-called “unbacked cryptoassets” such as Bitcoin (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report. The United Kingdom is currently working on a crypto regulatory framework that would mix existing financial asset laws
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“With no intrinsic value, huge price volatility and no discernible social good, consumer trading of cryptocurrencies like bitcoin more closely resembles gambling than a financial service, and should be regulated as such,” Harriett Baldwin, member of Parliament and chair of the Treasury Committee said in the statement. “By betting on
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Blue chip nonfungible token (NFT) project Pudgy Penguins has signed a representation deal with major Hollywood talent agency William Morris Endeavor (WME). According to an announcement via Twitter on May 5, Pudgy Penguins is looking to spread its intellectual property across film, TV, and gaming. We’re proud to announce that
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Finance mogul Warren Buffett, one of the most successful investors in history, discussed bitcoin during an interview on CNBC’s Squawk Box on April 12. As he has done in previous interviews, the business magnate likened bitcoin to a gambling scheme and chain letters he received as a child. Buffett Shares His
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Dai, MKR, Aave and Compound may not be gambling. But a large proportion of crypto is gambling. That's because a big chunk of the people who engage with blockchains are doing little more than betting on the very volatile prices of first-generation unbacked volcoins like dogecoin, floki inu, and shiba
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Fabio Panetta, part of the Executive Committee of the European Central Bank (ECB), believes that unbacked cryptocurrency assets are vehicles for gambling without intrinsic value, which need to be regulated. In an opinion piece, Panetta states that while cryptocurrency regulation is a good answer to the problem, it must also
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"Every dollar I could find I would put into [crypto casino] Stake in hopes of winning big," he wrote. "Even when the big wins did happen it wasn’t enough. Eventually, I lost everything. In addition to my own life savings, I also irresponsibly used investor funds to try and 'get
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