Fifteenth Report - Regulating Crypto

Select Committee
Treasury Committee HC 615 17 May 2023
Report Status Government responded
Conclusions & Recommendations 5 items (3 recs)
Source View on Parliament website
Government Response (AI assessment · 5 of 5 classified)
Accepted 3
Accepted in Part 1
Rejected 1
Clear

Recommendations

1 results
6 Rejected
Regulate retail trading of unbacked cryptoassets as gambling, not a financial service.
Recommendation
We strongly recommend that the Government regulates retail trading and investment activity in unbacked cryptoassets as gambling rather than as a financial service, consistent with its stated principle of ‘same risk, same regulatory outcome’. (Paragraph 52) Regulating Crypto 19 Read more
Government Response Summary
The government explicitly rejects the recommendation to regulate unbacked cryptoassets as gambling, stating it would be a fundamental departure from its intended approach which aligns with international standards for financial services.
HM Treasury
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