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Influential UK MPs Push for Crypto Trading to be Classified as Gambling

The UK Treasury Select Committee has suggested the country regulate cryptocurrency trading as a form of gambling rather than a financial service. On Wednesday, MPs said digital currencies such as Bitcoin and Ether have "no intrinsic value and no useful social purpose," claiming that they resemble gambling more than financial services, as reported by British media outlet Sky News. The Treasury Select Committee is appointed by the House of Commons to examine the expenditure, administration, and policy of the U.K. treasury, but it doesn’t have the power to set government policy.

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