Task Force in the UK Will Study Framework for Potential Cryptocurrency Regulatio

[Goodcat49]

A new Cryptoassets Task Force was set up in the UK on March 22, 2018, by the Treasury, Bank of England, and Financial Conduct Authority (FCA) to explore the risks of cryptoassets, the benefits of this technology, and its influence.

The UK’s Chancellor of the Exchequer, Philip Hammond, stated in a policy paper titled Fintech Sector Strategy: Securing the Future of UK Fintech that the government intends to study the important issues by “understanding and engaging with the implications of new technologies.”

In a push towards regulation, the Cryptoassets Task Force will decide how the authorities will deal with cryptocurrencies in the Fintech industry. Regarding the recent volatility of the cryptocurrency market, investors are at risk. Hammond explains, “Like traditional assets, cryptoassets may act as a store of value, but they have recently been subject to speculation which has led to significant volatility, contributing to them being risky investments.”

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/uk-study-cryptocurrency-regulations/