A group has been set up by the UK parliament of MPs and Lords from various parties to explore crypto and digital assets.
In Brief:
The group will discuss policy and regulation of the industry.
Parliamentarians, policymakers and the UK cryptocurrency sector will be involved in discussions.
A key focus is to create a regulatory framework that protects customers while encouraging innovation.
What does this mean?
The group looks to address challenges around cryptocurrency which mainly involve properly regulating it so that companies can innovate and be involved in the sector.
Chair of the group, Lisa Cameron MP, commented: “We must ensure that we have an appropriate regulatory framework in the UK which supports innovation and guarantees that the UK remains an attractive destination for innovative firms to set up and grow.
"It is equally vital that we have a clear regime to protect consumers, ensuring they understand the risks, and are protected from the risk of economic harm posed by fraud and scams."
