The working group of the government on the blockchain, which consists of employees of the Bank of England and the local regulator, has proposed to limit the trade digital assets
A new structure for the regulation of the blockchain-industry working group had suggested to the UK government on the cryptocurrency. Representatives of the Department have shown a structure which includes three types of digital assets, crypto-currencies, which are used to exchange, for investment, and the tokens that are used in ICO.
Digital money can not be recognized as means of payment because of the high volatility, low liquidity and due to the fact that they are difficult to track. Representatives of the working group stressed that in the future, thanks to these assets, will be cheaper and more efficient transactions by eliminating intermediaries.
At the moment, cryptocurrencies carry serious risks for investors, and they are also used in illegal activities, the report says. It is also reported that the ICO can provide opportunities for more effective fundraising.
“Due to issues with the integrity of the market and protection of investors considered the option of banning the sale of bitcoin to retail customers, including CFDs, futures, options and securities”, — the document says.
The working group developed rules for commercial digital assets. Information shall not mask or reduce their opportunities.
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