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Crypto in the crosshairs of the English regulator – Regulations updated soon?

Priority to clear regulations – This parliamentary group multiparty about cryptocurrencies at UK throw a investigations to the industry. To achieve this, it seeks the participation of various stakeholders in order to create a report that will contain the essential points about rules cryptos.

Cryptocurrencies in the UK: wider consultation

We give them the floor. According to the announcement published on his website, vAPPG (multi-party parliamentary group) launched a call for ideasintended for players in the crypto industry, with the aim of creating a report that contains a special regulatory recommendations sector.

The APPG is an all-party parliamentary group on cryptocurrencies and digital assets. It provides various stakeholders in the UK crypto industry with a forum to discuss the industry.

The call for applications is part a investigations conducted by the Cryptocurrency and Digital Assets Organization in the UK. The report will be forwarded to the Government and the Parliamentary Treasury Committee, which is also soon planning to launch its own inquiry into the sector.

Interested crypto players, private and public, have until September 5 then they submit their ideas in writing. In addition to this call for applications, APPG will organize testimony to hear the opinions of key stakeholders.

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From Cryptos to MNBC in the UK: Key Themes

APPG President, Lisa Cameron, MPhe listed the various topics that will be covered in this study, such as crime, cryptocurrency advertisements, the growth of the sector in recent years, the level of protection offered to consumers, etc.

Bidders will be able to more precisely give their opinion on 5 main areas :

  • The UK as a Global Hotspot for Cryptocurrency Investment: Outlining the Various Opportunities and Risks Associated with the Sector;
  • Current regulation of cryptocurrencies and digital assets;
  • The role and current approach of UK regulators, including the Bank of England, the FCA and the ASA, to the industry;
  • Central Bank Digital Currencies (MNBC);
  • Consumer protection and crime in the sector.

the future investigation report which the APPG will share should theoretically allow legislators and regulators to do so update regulations crypto industry in the UK, faced with the rapid evolution of the sector. Although the authorities do not hesitate to crack down on crypto companies that would cross the line, UK still aims to become a global hub for cryptocurrencies.

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