The UK government has rejected a proposal by the House of Commons Treasury Committee to regulate crypto retail trading similarly to gambling. In a committee report released on May 17, British lawmakers recommended regulating the UK crypto market akin to gambling.
The Treasury Committee asserted that crypto investment activity aligns with the principle of “same risk, same regulatory outcome.” The government strongly disagreed with the committee’s stance on the matter.
The authority clarified that crypto retail trading would be regulated similarly to any other financial service. Andrew Griffith, Britain’s financial services minister, emphasized that categorizing digital assets as gambling would put them in conflict with the European Union and global regulators.
He stated that the treasury firmly disagrees with the “Committee’s recommendation to regulate retail trading and investment activity in unbacked digital assets as gambling rather than as a financial service.” In the
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