UK Treasury to put cryptocurrencies under magnifying glass

Launched by the Treasury Committee, the investigation will take several angles including examining the role of cryptocurrencies in the UK, including potential opportunities and risks for consumers, the business community and government.

The potential impact of blockchain and distributed ledger technology on financial institutions and infrastructure is also examined, as is the matter of how to strike a regulatory balance between protecting consumers and enterprise without stalling innovation. In particular, the inquiry will scrutinise the regulatory response to cryptocurrencies from the government, the Financial Conduct Authority and the Bank of England.