'Wild West' Bitcoin 'should be regulated'
Bitcoin and other digital currencies are a "Wild West industry" and need to be regulated to protect investors, a committee of MPs has urged. Problems include volatile prices, minimal consumer protection and risks of hacking and money-laundering, says the Treasury Committee.
The committee said there were no well-functioning crypto-currencies and preferred to call them "crypto-assets". It urged City watchdog the Financial Conduct Authority to supervise them.
At present, the FCA has no power to regulate either the issuers of these assets or the exchanges on which they are traded.
"City" refers to the "City of London", a financial district within London.
Also at The Guardian.
(Score: 0) by Anonymous Coward on Thursday September 20 2018, @11:26AM
Sounds like protection racket to me.