Treasury to look into regulation of Bitcoin and blockchain in cryptocurrency inquiry

Currently unregulated

The Treasury Committee has launched an inquiry into the role of digital currencies in the UK with the view to regulating the emerging asset class.

The inquiry will examine the potential impact of the technology on financial institutions and infrastructure, and how regulation can provide protection for consumers and businesses without "stifling innovation". It will also scrutinise the regulatory response from the government, Financial Conduct Authority and Bank of England to digital currencies. Nicky Morgan MP, chair of the Treasury Committee, said: "People are becoming increasingly aware of cryptocurrencies such as Bitcoin but they may not be aware they are currently unregulated in the UK and there is no protection for individua...