If crypto is gambling, so is the existing financial system

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City AM

By Darren Parkin The UK Treasury Committee report on crypto – which recently made headlines for equating cryptocurrency with gambling – is nothing if not trying to be helpful to the status quo and the incumbent monetary system. I can do no better than quote Ian Taylor, board advisor at CryptoUK, who said: “We are both concerned and disappointed by these claims which are unhelpful, false, fundamentally flawed and unsubstantiated. The statement fails to reflect the true nature, purpose and potential of the crypto industry.” The banks and others saying that regulation might give crypto a ‘halo’ e…

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