The U.K. government rejected lawmaker plans to regulate crypto like gambling, saying its existing proposals better address the risks posed by events such as the FTX collapse, in a document published Thursday.
In May, the House of Commons’ Treasury Committee expressed concern that government plans to apply rules broadly similar to those for traditional finance to crypto treats the sector too softly, creating a halo effect that makes people think investing in bitcoin (BTC) or ether (ETH) is safe.
“The Government firmly disagrees with the Committee’s recommendation” concerning retail crypto trading and investment, the Treasury response said.
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