UK Treasury Select Committee to launch cryptocurrency inquiry - Reuters

Joshua Gibson FXStreet

The UK's Treasury Select Committee, a bipartisan group of MPs from both sides of the line, is set to begin an official inquiry into cryptocurrencies and blockchain technology, according to a UK statement.

Key highlights:

TSC looking at crypto markets and underlying distributed ledger technology.
Focus on opportunities, risks posed to consumers, businesses, and the government.
"People are becoming increasingly aware of cryptocurrencies...they may not be aware that they are currently unregulated in the UK... no protection for individual investors," Nicky Morgan, chair of the Treasury Committee
Committee will collect evidence, submit a report with recommendations to government.
Statement comes on heels of Mark Carney decrying Bitcoin "a failed currency".

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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