A useful report on the Treasury Committee's consultations on cryptoassets has been published for reading here: https://committees.parliament.uk/publications/39945/documents/194832/default/ It highlights the potential benefits of cryptoassets (e.g. cross border payments using specific kinds of cryptocurrencies) and risks (e.g. "Research by the Bank for International Settlements (BIS) into the retail adoption of cryptoassets estimated that 73–81% of the users that entered the Bitcoin market over
2015–2022 were likely to have lost money on their investments.") We strongly recommend reading the report to get an overall summary, with views from a wide variety of sources, of cryptoassets. An interesting item worth looking at is the estimated electricity consumption of the Bitcoin & Etherium blockchains, here: https://ccaf.io/cbnsi/cbeci.
We will continue to monitor various jurisdictions responses and views to cryptoassets.
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