March 19, 2018 / 1:24 PM / a year ago

UK government to study cryptocurrency risks in more detail

LONDON, March 19 (Reuters) - Britain’s government and regulators will look in detail at the potential risks from cryptocurrencies like bitcoin, British junior finance minister John Glen said on Monday.

Glen said there has been an “explosion of growth” in crypto assets like bitcoin, which may pose risks even though the underlying technology has immense potential.

“In our upcoming fintech strategy, the governnment will announce further work with the Financial Conduct Authority and the Bank of England to consider these issues in more detail,” Glen told the Innovate Finance conference.

Reporting by Huw Jones and Emma Rumney

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