A UK parliamentary group, the Crypto and Digital Assets All Party Parliamentary Group (APPG), recently said it had launched an inquiry that will examine the country’s current approach to crypto and digital asset regulation. As well as gathering information via evidence sessions, the APPG said it is also open to views from players in the sector.
Making the UK the ‘Global Home of Crypto Investment’
A parliamentary committee in the United Kingdom (UK) known as the Crypto and Digital Assets All Party Parliamentary Group (APPG) recently said it had launched an investigation into the country’s crypto and digital asset sector. The inquiry will focus on the country’s current approach to regulating crypto and digital assets. It will also examine the UK government’s plans to make the country a “global home for crypto investment.”
In a statement, the parliamentary group said it would hold more evidence hearings over the coming months. In addition to gathering evidence via public meetings, the APPG said it is also open to views from players in the sector such as crypto operators, regulators and industry experts.
After the investigation period ends, the APPG said it will prepare “a report with key recommendations and will share its findings with the government for consideration.” The report will also be shared with the Treasury Select Committee in Parliament.
Decisive time for the crypto industry
Lisa Cameron, Chair of the Crypto and Digital Assets APPG, said of the launch of the survey:
The UK crypto sector has seen increased interest from consumers and regulators as the number of people who now own some form of cryptocurrency or digital asset has grown in recent years. We are at a crucial time for the sector as global policy makers are also now considering their approach to crypto and how it should be regulated.
Cameron added that the group will also look into concerns about financial crime and advertising in the UK’s crypto sector. The APPG will further look at the steps taken by regulators from other jurisdictions.
Meanwhile, the group’s statement said contributions from individuals and organizations wishing to send their views must be sent via email on or before September 5. The statement also revealed that the APPG “will accept relevant reports and research as part of any written submission as an appendix.”
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