UK Parliamentary Group Announces The Details Of An Inquiry About Crypto And Digital Assets!

UK Parliamentary Group announces the details of an inquiry about crypto and digital assets! On 4 August, the UK Crypto and Digital Assets All Party Parliamentary Group (APPG) posted a press release regarding the crypto and digital assets sector.

The Inquiry

On 4 August, the APPG posted an inquiry on crypto and digital assets on Twitter. It will focus on several areas. First, it will focus on the current regulations of crypto and digital assets in the UK and how the UK can become the global home of crypto. 

Next is the role of UK regulators, such as the FCA, the ASA, and the Bank of England, in crypto and digital assets. Third, CBDCs in the UK. Last is potential risks regarding Consumer Protection and Economic Crime.

What is more exciting is that the APPG is inviting the views of everyone in this sector about these focuses, such as operators, regulators, experts, and government officials. The deadline is on 5 September. People can submit their views via email to UK APPG.

Lisa Cameron MP, Chair of the Crypto and Digital Assets APPG, added, “As part of its inquiry, the APPG will investigate the state of the UK crypto sector and recent concerns raised around financial crime and advertising. It will consider the growth of crypto over recent years and the need for regulators and Government to keep pace with the rapid advancements in innovation and technology.”

Previously on Crypto in the UK

The UK has been actively developing the crypto industry in the country. The country updates on some regulations and even wants to adopt new laws to ensure it is safe to operate for citizens. The community is excited to see how the crypto industry will grow in the UK.

Related: ​​What You Need To Know On The New Law On Digital Assets By UK Law Commision

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