Just In: Britain Denies Calling Crypto As Gambling
07/20/2023 18:26
As per the report, the British Finance Ministry has shown firm disagreement with the parliament's Treasury Committee recommendations.
Crypto News: The global digital asset market registered a piece of positive news on Thursday from one of the biggest economies. The British government stated that it has rejected lawmaker calls to control the crypto industry as a form of gambling. The authority mentioned that it would be regulated just like any other financial service.
Also Read: Congress Asks US SEC To Make Clear Crypto Rules
As per the report, the British Finance Ministry has shown firm disagreement with the parliament’s Treasury Committee recommendations. The committee asked the ministry to regulate retail trading and investment activities in unbacked cryptocurrencies as gambling and not as financial services.
Andrew Griffith, Britain’s financial services minister highlighted that treating crypto assets as gambling would push them at odds with European Union and Global regulators. However, this will also fail the attempts to mitigate risks from the crypto sector.
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