Topic: [2015-07-01] CD: Silicon Valley Bank: UK Should Regulate Digital Currency Firms (Read 283 times)
July 01, 2015, 06:06:11 PM
Silicon Valley Bank are scared. Good. They should be.
July 01, 2015, 05:14:30 PM
Silicon Valley Bank: UK Should Regulate Digital Currency Firms
Full story: http://www.coindesk.com/silicon-valley-bank-uk-should-regulate-digital-currency-firms/
Quote
The UK government should regulate activity in the cryptocurrency space, ideally working with regulators across the world to create global legislation, according to Silicon Valley Bank.
The US-based commercial bank, which boasts several offices worldwide, made these comments in its submission to the UK Treasury's call for information on digital currencies last November.
According to the four page submission, obtained by CoinDesk via a freedom of information request, regulation could help mitigate the risks associated with digital currencies and provide a framework for companies in the space to operate. If this were to happen, cryptocurrencies would become more appealing to users.
The US-based commercial bank, which boasts several offices worldwide, made these comments in its submission to the UK Treasury's call for information on digital currencies last November.
According to the four page submission, obtained by CoinDesk via a freedom of information request, regulation could help mitigate the risks associated with digital currencies and provide a framework for companies in the space to operate. If this were to happen, cryptocurrencies would become more appealing to users.
Full story: http://www.coindesk.com/silicon-valley-bank-uk-should-regulate-digital-currency-firms/
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