The growing popularity of digital currencies such as Bitcoin has led to a new call for regulation by the Financial Markets Law Committee, which argues that they should be treated in the same way as cash, securities and commodities. In its report, the committee said it was “concerned about the potential risks posed by virtual currencies, including their use as an alternative means of payment, or payment system.”
The growing popularity of digital currencies such as Bitcoin has led to a new call for regulation by the Financial Markets Law Committee, which argues that they should be treated in the same way as cash, securities and commodities. It's a question of regulatory policy rather than a legal matter with the aim of achieving a consistent approach regarding tax treatment, anti-money laundering and consumer protection with these currencies.