by Terence Zimwara
A parliamentary group in the United Kingdom, the Crypto and Digital Assets All Party Parliamentary Group (APPG), recently said it had launched an inquiry that will examine the country’s present approach to crypto and digital asset regulation. In addition to gathering information via evidence sessions, the APPG said it is also open to views from players in the sector.
A United Kingdom (U.K.) parliamentary committee known as the Crypto and Digital Assets All Party Parliamentary Group (APPG), recently said it had launched an inquiry into the country’s crypto and digital assets sector. The inquiry will focus on the country’s current approach to the regulation of crypto and digital assets. It will also examine the U.K. government’s plans to make the country a “global home of crypto investment.”
In a statement, the parliamentary group said it will hold several evidence sessions over the coming months. Besides gathering evidence via public meetings, the APPG said it is also open to views from players in the sector like crypto operators, regulators, and industry experts.
After the inquest period is over, the APPG said it will prepare “a report with key recommendations and will share its findings with Government for consideration.” The report will also be shared with the Treasury Select Committee in parliament.
Crucial Time for Crypto Industry
Remarking on the launch of the inquiry, Lisa Cameron, the chairperson of the Crypto and Digital Assets APPG, said:
The UK Crypto sector has seen increased interest from consumers and regulators as the number of people who now own some form of cryptocurrency or digital asset has grown in recent years. We are at a crucial time for the sector as global policymakers are also now reviewing their approach to crypto and how it should be regulated.
Cameron added the group will also look at concerns about financial crimes and advertising in the U.K.’s crypto sector. The APPG will further look at the steps taken by regulators from other jurisdictions.
Meanwhile, the group’s statement said submissions by individuals and organizations that wish to air their views must be sent via email on or before September 5. The statement also revealed that the APPG “will accept relevant reports and research as part of any written submission as an appendix.”
What are your thoughts on this story? Let us know what you think in the comments section below.
Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)’s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real … read more.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this … read more.