UK Parliament initiates inquiry into crypto and digital assets sector

A cross party group in the UK Parliament has begun an inquiry into the UK’s cryptocurrency and digital assets sector.

According to Finextra, the All Party Parliamentary Group for the UK Crypto and Digital Assets sector is exploring the need for future regulation of the market and inviting feedback from interest stakeholders across the industry, such as crypto operators, regulators, government and industry experts.

The group is chaired by Lisa Cameron MP and also involves former Secretary of State for Health Matt Hancock MP and Harriet Baldwin MP. Lord Vaizey – former MP for Wantage and now a member of the House of Lords – is also taking part.

Finextra remarked that the terms of the inquiry are expansive, assessing the role of government and regulators, consumer protection issuers and the use of central bank digital currencies.

Cameron remarked, “We are at a crucial time for the sector as global policy makers are also now reviewing their approach to crypto and how it should be regulated. It’s vital that the UK does not take its foot off the gas and that Government and regulators keep to their commitments when it comes to crypto and digital assets.”

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