nicky: The Conservative MP Nicky Morgan, the chair of the committee, said the current situation was unsustainable, according to The Guardian. Bitcoin and other crypto-assets exist in the wild west industry of crypto-assets. The committee said in a report that consumers were left unprotected from an unregulated industry that aided money laundering, while the government and regulators bumble along and fail to take action. This unregulated industry leaves investors facing numerous risks, Morgan said. The US-China trade war is unlikely to be settled soon Read more Crypto-assets are not covered by the City regulator, the Financial Conduct Authority FCA and there are no formal mechanisms for consumer redress or investor compensation. Given the high price volatility, the hacking vulnerability of exchanges and the potential role in money laundering, the Treasury committee strongly believes that regulation should be introduced.
(news.financializer.com). As
reported in the news.
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