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Sunday, January 23, 2022

Britain’s Parliament has formed a support group to regulate the crypto sex ‍ter

The UK has formed an independent group of lawmakers to regulate digital currency. This group, named Crypto and Digital Assets Group, includes members of Parliament and the House of Lords. The group aims to create new norms for the digital asset industry that support innovation. Many well-known people have been given place in this group. These include former UK Digital Economy Minister – Ed Vizzy, MP – Harriet Baldwin and former JP Morgan executive.

Speaking to the Financial Times, Scottish National Party (SNP) MP Lisa Cameron said that we are at a critical time for this sector, as policymakers around the world are now reviewing their approach to crypto. Wondering how it should be regulated.

The Westminster All-Party Parliamentary Group (APPG) is backed by digital asset trade association CryptoUK, which it says serves as a forum for parliamentarians, policy makers and the UK crypto sector to discuss policy and regulation related to the crypto industry. will work as

According to CryptoUK, the new group will address key challenges facing the sector. Create a regulatory framework that supports innovation and growth, while addressing issues such as ‘consumer protection’ and ‘economic crime’. The group covers a range of topics including ‘protecting consumers from fraud and scams’, ‘advertising’, ‘financial education’, ‘financial services’, ‘the UK’s role in innovation’, ‘environmental issues’ and ‘the future of digital payments’. I will take information.

CryptoUK told the Financial Times that the group also wants to investigate cases related to ‘the state of the UK crypto sector’, ‘financial crime’ and advertising. The group will also look at how crypto has evolved in recent years.

Trade associations representing companies such as eToro and Crypto(dot)com have said the group will also look into rulings from courts in other countries. Especially the decisions of the courts of those countries, where steps have been taken to regulate the crypto sector.

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Damini Sharma
Experienced Senior Content Writer with a demonstrated history of working in the information technology and services industry. Skilled in SEO Copywriting, Web Content Writing, Storytelling, Blogging, and Social Media. Strong media and communication professional with a mass communication focused in Journalism from Sjmc davv indore.
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