UK regulators have told a government inquiry into cryptocurrency they will have to wait until a report is published in September to gain a clearer picture on the long-term legal future of the payments technology.
Representatives from the Bank of England, the Financial Conduct Authority (FCA) and HM Treasury proved evasive on Wednesday when grilled by the Treasury Select Committee on how they plan to bring cryptocurrencies into the regulated environment.
Labour MP Alison McGovern asked the trio what social value, if any, the ever expanding market could have for consumers and businesses. Her question was straightforward: “What’s the plan?”
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