A cross-party group of U.K. legislators has launched an investigation into the nation’s cryptocurrency industry with an emphasis on regulation. The All Party Parliamentary Group on Crypto and Digital Assets (APPG) announced its plans to write a report with policy suggestions on Thursday and to inform the government of its findings. Opinions From Crypto Industry Expert The group solicits opinions from the crypto industry experts, crypto service providers, regulators, and government members on various subjects. The suggestion includes the U.K’s current approach to regulating digital assets. With the role of local regulators, the potential of central bank digital advertising. The investigation comes shortly after a measure with provisions to include stablecoins, digital assets focused on payments, and tethered to the value of physical assets like fiat currencies, into the purview of regulation was introduced in July. Stablecoin Guidelines The stablecoin guidelines are anticipated to be a part of a more significant attempt by the government to turn the state into a worldwide crypto powerhouse as the U.K. charts its course after Brexit. The APPG inquiry will examine international practices and determine if the government’s goals are being met by the way that cryptocurrency is currently regulated. Regulators worldwide are rushing to establish more stringent crypto regulations in the wake of the recent crypto market fall, which faile...
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