The APPG on FinTech hosted a roundtable discussion on cryptocurrencies on 2nd July from 16:00-17:30pm in the Palace of Westminster.
The meeting was hosted by the Group’s Chair, Adam Afriyie MP, and featured an introduction to the rising importance of digital currencies by the APPG’s Vice-Chair, Lord Holmes of Richmond.
Cryptocurrencies themselves have vast potential to positively disrupt and expand the existing offering of financial services. The innovative blockchain technology behind them could lead to the exciting development of purpose-led digital currencies, driven by user demand. However, challenges remain concerning how the industry should be regulated given the volatility already seen in the market.
This session brought together Parliamentarians, industry and relevant stakeholders to discuss the key challenges, potential solutions, and the next steps in relation to cryptocurrencies. The launch of the Treasury Select Committee’s inquiry into the opportunities and risks that digital currencies may bring to consumers, businesses, and the Government, will be of particular interest in September.
We would like to thank everybody who contributed to what proved to be a lively and informative discussion.
Please see below for minutes from the meeting.