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. The APPG also said that they are open to receiving views from the industry players.
Making the UK the ‘Global Home of Crypto Investment’
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.”
The parliamentary group stated in a statement that it would hold numerous evidence sessions during the next months. The APPG also stated it was open to hearing views from industry professionals, such as regulators and crypto operators.
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.
Important Time For Crypto Industry
Lisa Cameron, chairperson of Crypto and Digital Assets APPG made a comment on the opening of the inquiry.
Consumers and regulators are showing increased interest in UK’s Crypto industry as more people have digital assets or cryptocurrency. This is a critical time in the industry’s history as policymakers around the world are reviewing how crypto should be managed and whether they are regulating it.
Cameron added the group will also look at concerns about financial crimes and advertising in the U.K.’s crypto sector. The APPG will also examine the actions taken by regulators in 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.”
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