Crypto News: Britain Denies Calling Crypto As Gambling
Also Read: Congress Asks US SEC To Make Clear Crypto Rules advertisement British Finance Ministry Rejects Lawmaker Calls Over Crypto 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. The parliament’s Treasury Select Committee has suggested to the ministry that Bitcoin (BTC), Ethereum (ETH), and other major unbacked cryptos need to be regulated. British lawmakers seem to be worried that placing the crypto sector under the lens of financial service...