Technology Technology

Regulate crypto like gambling, not a financial service, UK lawmakers urge government

By Phoebe Seers
  • 17 May 2023 00:01
  • 16 May 2023 19:14
Cryptoassets should be treated like gambling when it comes to regulation, an influential committee of UK lawmakers said today, calling on the government to abandon plans to bring them inside the financial services regulatory perimeter. 
Unbacked virtual currencies such as Bitcoin have no intrinsic value, serve no useful social purpose

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Phoebe Seers


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

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