UK’s Largest Crypto Firms Implore MPs to Regulate

[kreslik.news]

Led by self-regulating body CryptoUK, the British blockchain industry is reportedly urging members of parliament to back their plans for government regulation. CryptoUK’s plans for regulation were laid out in a written response to an inquiry into cryptocurrencies by the House of Commons Treasury Select Committee.

The proposals include a procedure for granting “crypto licenses” to firms who meet certain KYC and AML standards. CryptoUK has also called on MPs to replicate peer-to-peer finance legislation to bring cryptocurrency platforms under the Financial Conduct Authority’s (FCA) jurisdiction, eliminating the need for Primary Legislation.

[size=180]The Goals: Reduce Consumer Risk and Improve Industry ... (read more)