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UK lawmakers open inquiry into crypto risks

MPs seek views on NFTs, blockchain and more amid concerns over money laundering and sanctions evasion

Crypto assets ‘have the potential to bring new and innovative changes to the UK financial system’, according to Mel Stride, chair of the Treasury Committee
Crypto assets ‘have the potential to bring new and innovative changes to the UK financial system’, according to Mel Stride, chair of the Treasury Committee Photo: Valeria Mongelli/Getty Images

UK lawmakers have launched an inquiry into the risks and opportunities that cryptoassets pose to businesses and consumers.

The 13 July request for evidence from businesses, crypto industry players, regulators and consumers comes amid a meltdown in prices, a s0-called ‘crypto winter’, that has seen the biggest crypto, bitcoin, lose 70% of its value since November.

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