Britain rejects call to regulate crypto as gambling

Published by
Reuters UK

By Huw Jones LONDON (Reuters) -Treating cryptoassets as a form of gambling would put Britain at odds with global and European Union regulators and fail to mitigate risks from the sector, Britain’s Financial Services Minister Andrew Griffith said on Thursday. Parliament’s Treasury Select Committee said in a report in May that bitcoin, ether and other “unbacked” cryptocurrencies should be regulated as gambling given the significant risks they pose to consumers. Lawmakers worry that treating the sector as a financial service would lead to consumers thinking it is safer than it is, with UK regulat…

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