The Taskforce (consisting of HM Treasury, the Financial Conduct Authority and the Bank of England) was launched by the Chancellor of the Exchequer in March 2018 and since then it has been working on developing its response to the regulatory challenges for use of crypto-assets and underlying technology on the UK market, summarised in the final report published in October 2018.
The Report, consisting of 5 Chapters, provides an overview of crypto-assets and DLT, their nature, typology and current use, as well as an assessment of the risks and benefits of such assets/underlying technology.
Overall, the Report takes a more conservative view than the recent report on crypto-assets by the House of Commons Treasury Committee published in September 2018 which called for all crypto-asset activity in the UK to be regulated as a matter of urgency
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