UK MPs: Clear cryptocurrency regulations should be established to prevent consumers from turning to unregulated offshore providers

ChainCatcher news, according to DL News, UK parliament members warn that the UK is falling behind in cryptocurrency regulation, which could lead consumers to turn to unregulated offshore providers. New co-chairs Gurinder Singh Josan and Edward Vaizey urge lawmakers to establish clear rules. Singh Josan stated that the government's failure to pass meaningful legislation could push businesses to more favorable jurisdictions and even lead consumer funds to flow into dubious schemes.