A panel of British lawmakers has recommended that the trading of unbacked crypto assets such as Bitcoin and Ether should be regulated as gambling rather than a financial service. The UK Treasury Committee argued that the volatility and lack of intrinsic value of most crypto assets make them particularly risky for consumers. The committee also recognised the potential for some crypto assets and their underlying technology to bring benefits to financial services and markets, but called for an effective regulatory framework to mitigate associated risks.
