Treasury Committee calls for regulation of 'Wild West' cryptocurrencies

Risk to retail investors

Mike Sheen
clock • 3 min read

The Treasury Committee has called on the government and the Financial Conduct Authority (FCA) to take responsibility for the regulation of the cryptocurrency market, describing the "ambiguity" of their position as unsustainable.

In a report released on Wednesday (19 September), the Treasury Committee singled out the notable risk posed to retail investors by crypto-assets such as bitcoin, highlighting a lack of "inherent value", "market fundamentals", volatility and safekeeping concerns, as well as the potential for fraud and money laundering. IW Podcast: Unravelling the hype around Bitcoin Commenting on the report, Chair of the Treasury Committee Nicky Morgan MP (pictured) said: "Bitcoin and other crypto-assets exist in the Wild West industry of crypto-assets. This unregulated industry leaves investors facing...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

FCA's vulnerability findings flag lack of tailored training and understanding

FCA's vulnerability findings flag lack of tailored training and understanding

'Areas for improvement remain’

Isabel Baxter
clock 07 March 2025 • 6 min read
FCA private markets review raises valuation concerns

FCA private markets review raises valuation concerns

As exposure to private assets grows

clock 05 March 2025 • 5 min read
FCA's Nikhil Rathi: Tackling growth 'requires bold strokes – from all of us'

FCA's Nikhil Rathi: Tackling growth 'requires bold strokes – from all of us'

Regulator aims to 'end duplication'

Linus Uhlig
clock 27 February 2025 • 2 min read
Trustpilot