European governments are quite cautious about cryptocurrencies and investments into them. And the regulatory base is as of now a lot more sparse, than one in America and Asia. But UK has announced that the Treasury Select Committee is launching an inquiry into cryptocurrencies and the distributed ledger technology that is the base of all crypto networks.
The inquiry will study the risks and opportunities presented by digital currencies for businesses and individual investors. Also, the government wants to see the possible benefits for itself from integrating cryptocurrencies and blockchain into daily operations.
Nicky Morgan, the Chair of the Treasury Select Committee, told the press that public interest in cryptocurrencies is rising, but the investments are unregulated and unprotected by the laws. High risks involved in this market are worrying. She added, that finding the right balance between regulating digital currencies for protection of individual investors and allowing the freedom of innovation is necessary in this case, so the Committee's goal isn't stomping down on overall usage of digital currencies.
This notion is just a next step in widespread action taken by EU governments to regulate cryptocurrencies. Lawmakers all around the Europe are discussing the possible governmental stance on crypto. For example, France and Germany have announced the joint effort which will present a set of regulation in the field during the next G20 summit.