Regulators need to recognize the uniqueness and potential of cryptocurrency instead of seeking to fit crypto assets into an outdated regulatory framework.
CryptoUK strongly disagrees with the Treasury Committee’s conclusion, and we are both concerned and disappointed by these claims which are unhelpful, false, fundamentally flawed and unsubstantiated. The statement fails to reflect the true nature, purpose and potential of the crypto industry.
The Treasury Department released its first ever illicit finance risk assessment on the vast ecosystem of decentralized finance, or defi, which the report said was rife with criminal activity.