Crypto trading should be treated like a type of gambling, influential MPs say

From news.sky.com

An influential panel of MPs has called on the government to regulate consumer crypto trading and speculation as a type of gambling. The cross-party Treasury Committee claimed digital currencies such as Bitcoin and Ether have "no intrinsic value and no useful social purpose" - and as well as consuming large amounts of energy, they are often used by criminals for scams. It comes after the government announced proposals in February to regulate the crypto industry by bringing it under financial services law. But MPs said a better approach would be to recognise how speculation in unbacked cryptoassets - like Bitcoin - ... (full story)