The UK will investigate the potential benefits and risks of cryptocurrency

Home » ALTCOINS » The UK will investigate the potential benefits and risks of cryptocurrency
2018-02-23
The UK will investigate the potential benefits and risks of cryptocurrency

The UK Treasury Committee will investigate the potential benefits and risks of cryptocurrency in order to better understand how to regulate this new technology.

“People are hearing more and more about cryptocurrencies like bitcoin, but they probably do not know that at the moment they are not regulated in the UK. Therefore, it is extremely important to find the right balance between the regulation of digital currencies and the adequate protection of consumers and business, without interfering with the development of innovation, “said the head of the committee, Nikki Morgan.

In addition, lawmakers are going to study how the underlying bitcoin blocking technology can affect the work of financial institutions, including the Bank of England.

Representatives of the parliament already demanded comprehensive legal assessments, separation of clients’ and companies’ funds, “honest, transparent and not misleading” customer relations, as well as using cold wallets to store clients’ funds.

“CryptoUK will appeal to the government with a proposal to establish proper regulation to protect consumers and ensure business certainty, which will lead to the prosperity of this sector in the UK,” the statement said.

CRYPTOCURRENCIES
  • bitcoinBitcoin$3,612.14
  • rippleXRP$0.322868
  • ethereumEthereum$120.06
  • tetherTether$1.00
  • eosEOS$2.43
  • stellarStellar$0.106322
  • litecoinLitecoin$31.12
  • cardanoCardano$0.043773
  • tronTRON$0.023845
  • moneroMonero$44.54
  • iotaIOTA$0.311333
  • nemNEM$0.056151
  • dashDash$70.30
  • neoNEO$7.56
The complexity Bitcoin mining is growing
As a result of the next recalculation of the complexity of mining Bitcoin on the night of January 14, this figure increased by almost 5%. The complexity of mining is a parameter of the blockchain network, which shows how difficult it is to perform a mathematical calculation to find a new unit and, accordingly, to […]
2019-01-18 0 4
Bitcoin volatility fell by 98% over the year.
Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, this figure was $ 3,468, then a year later – only $ 61, notes CoinDesk Markets analyst Omkar Godboul. The daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was […]
2019-01-17 0 7
Will Ethereum hard fork Constantinople be launched this week?
Ethereum, one of the largest and most influential blockchains in the world, is planning to improve its code in the near future. A massive system upgrade, or hardfork, called “Constantinople” will include a number of technological improvements called to enhance practicality and the architecture of smart contracts. The Ethereum community will make a final decision […]
2019-01-15 0 28
The Brit​ish citizen was trying to buy a gun with cryptocurrency
David Mitchell, a 48-year old British citizen, was arrested by the US police after an attempt to purchase a gun with cryptocurrency via the dark web. Mr. Mitchell was planning to buy a Glock 9mm pistol which costs around £2,000. The man explained to the court that he was curious whether it is possible to […]
2019-01-14 0 17
© 2017–2018