UK Treasury Committee Sets Sights On Virtual Currency

The UK’s influential Treasury Select Committee has announced it will examine the position of virtual currencies in the UK, looking at potential changes to regulation in the space.

The inquiry follows disparate interventions in the virtual currency space by a number of official bodies, including the Financial Conduct Authority (FCA) and the Bank of England, and will examine their responses with an eye on both consumer protection and innovation regulations.

“The Treasury Committee will look at the potential risks that digital currencies could generate for consumers, businesses, and governments, including those relating to volatility, money laundering, and cyber-crime,” said chairperson Nicky Morgan MP.

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