UK mulls banning cryptocurrency assets, says they have ‘no intrinsic value’

As part of a Treasury-led taskforce, the UK’s Financial Conduct Authority (FCA) released details of its investigation into how UK regulators should approach the cryptocurrency industry, mostly by defining the different kinds of cryptocurrencies and their underlying blockchain technology. Much like the old man who yells at the cloud, the UK government is lashing out at the cryptocurrency industry. Not only does the report reaffirm its view that digital assets (cryptoassets) have no intrinsic value, financial regulators are even considering banning certain kinds. The report ultimately details the actions the UK government is taking to keep the Crown safe from…

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