{"id":133973,"date":"2018-09-19T12:38:58","date_gmt":"2018-09-19T16:38:58","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133973"},"modified":"2018-09-19T08:27:49","modified_gmt":"2018-09-19T12:27:49","slug":"uk-treasurys-proactive-approach-to-cryptocurrencies-welcomed-by-devere","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/uk-treasurys-proactive-approach-to-cryptocurrencies-welcomed-by-devere\/","title":{"rendered":"UK Treasury\u2019s \u2018proactive\u2019 approach to cryptocurrencies welcomed by deVere"},"content":{"rendered":"
September 19, 2018<\/div>
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By George Prior<\/strong><\/p>\n

The UK Treasury Select Committee\u2019s conclusion that crypto-assets should be regulated demonstrates cryptocurrencies are part of mainstream finance and the sector is likely to rally as a result.<\/p>\n

This is an observation from Nigel Green, founder and CEO of deVere Group, which launched the exchange app deVere Crypto earlier this year following a unanimously-agreed report by the Commons Select Committee on crypto-assets for its Digital Currencies Inquiry.<\/p>\n

The report concludes: \u201cRegulation [is] needed for\u2026crypto-asset market\u201d and that the \u201cambiguity of the UK Government and regulators\u2019 position is clearly not sustainable.\u201d<\/p>\n

Mr Green affirms: \u201cCryptocurrencies are here to stay. In fact, in today\u2019s increasingly digitalised, globalised world, demand for these digital, global currencies is only set to soar in the coming years.<\/p>\n

\u201cAs such, I welcome the Treasury Select Committee\u2019s proactive and progressive approach, which could be the first step to providing regulations to protect consumers and prevent illicit activity.<\/p>

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\u201cThe conclusion made by the Committee about cryptocurrencies puts them on the right side of history.\u00a0 Its findings that these assets should be brought into a regulatory framework demonstrates once again that they are now a part of mainstream finance.\u201d<\/p>\n

He continues: \u201cAs I have said previously, regulation of the crypto sector is now I believe inevitable.<\/p>\n

\u201cRegulation of cryptocurrencies will give investors even more protection and, therefore, confidence in the burgeoning market is likely to drive prices higher \u2013 and today\u2019s signal from the Treasury Select Committee could have the same effect.\u201d<\/p>\n

This Inquiry follows the Financial Stability Board (FSB), the international watchdog chaired by Bank of England Governor, Mark Carney, releasing a report in the summer that concluded Bitcoin and cryptocurrencies do not pose a risk to the global financial system.<\/p>\n

About:<\/em><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/em><\/p>\n

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By George Prior The UK Treasury Select Committee\u2019s conclusion that crypto-assets should be regulated demonstrates cryptocurrencies are part of mainstream finance and the sector is likely to rally as a result. This is an observation from Nigel Green, founder and CEO of deVere Group, which launched the exchange app deVere Crypto earlier this year following […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-133973","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=133973"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133973\/revisions"}],"predecessor-version":[{"id":133974,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133973\/revisions\/133974"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}