United Kingdom Parliamentary Treasury Committee to review digital currencies

The House of Commons Treasury Committee is going to see if there are any serious disadvantages for investors in the British cryptocoin market in its current form. In addition, this new inquiry will help this Committee to find out potential market benefits.

Chairman of the Treasury Committee, Nicky Morgan, made it clear that it was absolutely critical to find the right balance between the regulation and innovation. She has also voiced support for the innovations in the sphere of blockchain and for distributed ledger solutions. This gives grounds to describe the Committee’s position as cautiously optimistic.

Despite this, the Committee will not ignore the dark side of cryptocurrencies: money laundering, tax evasion and other illicit finance activities have already been highlighted as unacceptable by the Prime Minister of Great Britain.

The major cryptocurrency companies of Great Britain have recently formed an organization which will protect the interest of the market members and will discuss regulative initiatives with the authorities. According to the recent survey poll of the British corporations, half of 750 interviewed have crypto-related assets.