The UK’s Financial Services Secretary, Andrew Griffith, has stated that treating crypto assets as a form of “gambling” will not mitigate existing risks.
Speaking at the British Parliament, Griffith stated that the parliamentary Treasury Commission recommended in May this year that cryptocurrencies should be regulated as a form of gambling, but this was not accepted by the government.
Answering the questions of the relevant commission member deputies, Griffith argued that such an audit would conflict with the UK’s other European Union and global controllers, and would not reduce the risks regarding the currencies in question.