According to the announcement, the All-Party Parliamentary Group (APPGUK for Crypto and Digital Assets – a bipartisan group in the UK Parliament – is looking to dive deeper into the crypto industry.
According to a press release, Chairperson Lisa Cameron, a member of the Scottish National Party, leads a group of Members of Parliament from all parties and interests, covering all corners of expertise in the financial and technical sectors.
The group will focus on “key policy issues with respect to the UK crypto and digital asset sector and” […] Would like to hear from crypto operators, regulators, industry experts and the government on the need for regulation of the sector.”
APPG will focus primarily on how the UK accesses crypto and digital assets and plans to make the UK a “global home of crypto investment”, as well as how the Bank of England, the FCA and the ASA are among Can meet and collaborate in terms of crime crypto and digital assets, how to approach central bank digital currencies and consume protection.
“It is important that the UK does not lose its footing on gas and that the government and regulators stick to their commitments,” Cameron said.
Ian Taylor, executive director of Crypto UK – a self-regulatory trade association for the crypto asset industry in the UK – said the investigation is key to the UK’s ambitions in becoming a “crypto asset technology hub”. claimed back in April.
“The government has stated that it wants the UK to be a global home for crypto investment and the focus should now be on how the UK can fulfill this commitment,” Taylor said.
All eyes on crypto
The industry has seen the collapse of several major firms, including three arrow capital, Celsius, And voyager digitalfueled, at least in partFrom the fall of terra This caused turmoil among investors and the entire market.
With so many influencers, regulators around the world are now turning their attention to the industry.
Chairman Cameron echoed this approach, saying that the UK wants to help heal the cracks as “we are at a critical time for the sector as global policymakers are now reviewing their outlook for crypto and how it should be addressed”. How should that be regulated.”
Interested parties are now being called to submit inquiries by September 5. After that, APPG will begin making recommendations from key stakeholders and share its findings with the Treasury Select Committee in Parliament.