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06 June 2023
Categories: Legal News , Cyber , Technology , Regulatory , Cybercrime , Financial services litigation , Criminal
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LNB NEWS: APPG for Crypto and Digital Assets Group says need for regulation is urgent

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The All Party Parliamentary Group (APPG) for Crypto and Digital Assets Group has published a report calling for urgent regulation of the cryptocurrency and digital asset industry in the UK following its official inquiry into the sector.

Lexis®Library update: It says the growth of cryptocurrencies and digital assets without comprehensive regulation presents considerable risks.

The report, Realising Government’s Vision for the UK To Become a Global Hub for Cryptocurrency & Fintech Innovation, makes 53 recommendations to the government on a number of key areas including:

• the UK’s approach to regulation of cryptocurrency

• the role and current approach of UK regulators including the Bank of England, the Financial Conduct Authority and the Advertising Standards Agency

• the potential offered by Central Bank Digital Currencies

• risks faced in terms of consumer protection and financial crime

Sources: APPG publishes inquiry report on crypto and digital assets

UK Parliament publishes report into crypto industry

This content was first published by LNB News / Lexis®Library, a LexisNexis® company, on 5 June 2023 and is published with permission. Further information can be found at: www.lexisnexis.co.uk

Categories: Legal News , Cyber , Technology , Regulatory , Cybercrime , Financial services litigation , Criminal
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