BitcoinWarrior

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The patchwork of UK crypto regulation is still too complex to bring real benefit

Yet another cryptocurrency scam has taken advantage of UK consumers. Last weekend, the North East Regional Organised Crime Unit (NEROCU) issued a fraud warning against Cosoin, an “investment app” that is, sadly, not much more than a Ponzi scheme. The continuing march of scams and frauds like this led to no surprise that last May, a UK Treasury committee “strongly recommended” that crypto trading for retail be regulated akin to gambling last year. Later in the summer, the UK Economic Secretary to the Treasury, Andrew Griffith, rejected this suggestion, and disagreed with their recommendation to…