Crypto should be regulated as gambling, UK lawmakers say

Bitcoin, ether and other cryptocurrencies should be regulated as gambling given they are potentially used by fraudsters and pose significant risks to consumers, a panel of UK lawmakers said in a report on Wednesday. Britain is planning its first rules for cryptoassets, which currently only comply with anti-money laundering safeguards. Bitcoin and ether account for two-thirds of all cryptoassets and are not backed by any currency or asset, leading to volatility in prices and the potential for a