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MPs urge appointment of a crypto tsar amid call for ‘immediate crypto regulations’

A cross-party group of MPs and Lords said that crypto is ‘here to stay’

While the cross-party group of MPs welcomed the collaboration between the UK government and the Bank of England to explore the potential of the digital pound, the lawmakers urged caution over its impact on the private sector

Corbis via Getty Images
By
Bilal Jafar

The All-Party Parliamentary Group for crypto and digital assets has called for urgent measures to regulate crypto in the UK and wants the government to consider appointing a 'crypto tsar' to ensure efforts across various departments with a stake in the sector are coordinated.

In a report published on 5 June, the cross-party group of MPs and Lords led by Lisa Cameron, made 53 recommendations on crypto regulations and noted that the next 12-18 months are important to ensure the UK’s early leadership in the global crypto sector.

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