UK MPs: Clear crypto regulations should be in place to prevent consumers from turning to unregulated offshore providers

according to DL News, UK parliament members warned that the UK is lagging behind in cryptocurrency regulations, which could lead consumers to turn to unregulated offshore providers. Newly appointed co-chairs Gurinder Singh Josan and Edward Vaizey urged lawmakers to establish clear rules. Singh Josan stated that the government's failure to pass meaningful legislation could potentially drive businesses to more crypto-friendly jurisdictions, and even lead to consumer funds flowing into suspicious schemes.