Bitcoin Regulation In UK By Treasury Commitee

Bitcoin news; It seems, that UK is going to regulate cryptocurrency market. The authorities of the country have stated, that they are in process of investigating Bitcoin. The purpose is to identify the possible risks of central banking and other financial institutions.

Also the UK investigators will analyze the necessity of cryptocurrency market regulations. At this moment the House of Commons Treasury Committee is performing an investigation into cryptocurrency and Blockchain.

The committee is also looking into assessing whether or not the Bank of England and the Financial Conduct Authority should impose regulations on cryptocurrencies.

Some market insiders have noted the positive aspect in cryptocurrency regulation. A Bitcoin expert Odysseas Sclavounis has noted in his report:

“A good regulatory framework is always welcome and this will provide clarity on tax as well as consumer protection.”

Some investors have appreciated the UK Treasury’s action of regulating crypto-market. Some of them has said that the regulation will integrate their solutions to the mainstream financial system.