UK government rejects proposal to regulate crypto trading as gambling
The UK government rejected lawmakers’ proposal to regulate retail trading and investment in unbacked cryptoassets as gambling, according to a report of comments by financial services minister Andrew Griffith. Griffith said the government favoured treating the activity like other financial services. The government is drafting rules for the sector, while lawmakers raised concerns about consumer risks.
The decision leaves gambling operators outside the proposed regulatory approach to unbacked cryptoasset trading.