##### The perception with which cryptocurrencies are classified even now by the authorities all over the world is different and there have been different opinions about how it should be typed or by what means that acid should be classified as there have been different kinds of thoughts about making it something that is similar to gambling or it is something it is kind of similar to stop in the stock market. But at the end of the day, it is up to the authorities or the Government of that particular country who is going to decide about how it is going to be classified and what norms and regulations are going to be applied to it because of the classification it receives.



![aidan-howe-dg586BO8UbQ-unsplash.jpg](https://files.peakd.com/file/peakd-hive/sayu907/23tvbt76nRYogMCtQBmtDo8hZphnEdDrVw9ycr3hgS53e2Eu6YGEnigWus1biw61BWPHK.jpg)
[src](https://unsplash.com/photos/dg586BO8UbQ)


It is a very important topic to be talked about because it is going to describe how a government of a particular country is thinking about cryptocurrencies if they are trying to make it something which is going to be not so easy to access for a lot of people are going to charge a huge amount of tax in terms of transaction fee or something else then you can even think that the government is kind of not sure about that thing to be present in the nation in the first place is very heavy.

On the other hand, if you see people or the ones who are in powerful positions in a country talking about cryptocurrency as something like it is surely to be implemented in many areas of the country which is already existing as well as integrating the new technology with whatever it can be integrated into this kind of behavior of this kind of attitude does portray an image of acceptance or welcoming something like cryptocurrencies or any emerging technology to be fair.


But overall if you see the picture of cryptocurrency that has got imprinted on the minds of a lot of people is that it is highly volatile and just because of that they kind of compare it to gambling which is also very volatile and is having very heavy risks involved in it because of which we see that all of the countries do make sure that it is kind of turn as similar to be gambling and henceforth applying the rules and regulations that are already existing for gambling activities like heavy taxes and tight security norms which are implemented with it as well.



![fas-khan-iUcS6XF_GI4-unsplash.jpg](https://files.peakd.com/file/peakd-hive/sayu907/EpXK2HyED4f8sDUMmEAiwLodn61hZchH9s33DrnYMBMTSZSLBuEF8gQVK3HjjohgdRC.jpg)
[src](https://unsplash.com/photos/iUcS6XF_GI4)


Recently in the United Kingdom that has been talks about classifying acids as a form of gambling and putting all of the regulations that do apply to gambling alongside cryptocurrencies and all of the things that are involved with it there has been a very long discussion from a very long amount of time about this time topic in the United Kingdom.


And recently the decision has been made that cryptocurrency will not be treated the same as gambling and it will not be regulated the same way gambling activities are regulated in the country. There have been discussions about making sure that Crypto assets are unbaked and are not baked by some significant authority that is working behind it or a team there those cryptocurrencies will be regulated as gambling given the significant risks they do pose to consumers.

But the fact is that the British government is thinking about if try to acids are regularised in whatever means even if it is regulated as per gambling norms and regulations in the country the citizens would believe it is safer than it is and get involved in it because the government is backing it with their regulations in whatever means they do regulate it. Regardless of all of that the lawmaker and finance enthusiasts and ministers in Britain do want them to become a global hub for crypto and its related blocks and Technology and they are also assured that they are already working in the same space and sector in various means.



![scott-graham-OQMZwNd3ThU-unsplash.jpg](https://files.peakd.com/file/peakd-hive/sayu907/23zS1ELzoFTXL2J7EFq1DP8iwZXWdhDCt2eBVuHes1UmSzVTGzQqQpMrGsGhHxWSS2qnm.jpg)
[src](https://unsplash.com/photos/OQMZwNd3ThU)


The lawmakers also stressed the Giving examples of the collapse of FTX exchange which was a very highly rated cryptocurrency exchange because regulating trips to acid as gambling activities will not highlight this kind of risk involved also the fact that they will be going counterclockwise as per the global recommendations about Crypto regulation like the ones FSB has been recommending over the last few weeks.

Doing so would miss aligning the country's approach to regulating trips to acids with the rest of the world which is something they do want to avoid as International standards are going to be the ones that are going to become normal once everything gets finalized and everyone agrees is upon it to follow the same kind of rules but as of now going completely solo and making something which no one has already done this kind of regulations may backfire in the upcoming days as the lawmakers stated so.

Another bit of interesting fact is that the EU or the European Union has already approved the world's first set of comprehensive rules for trading crypto assets which will be coming into effect by the middle of next year which is also something to keep an eye on because that is something which will be regulating trip to acid in some or the other way or something which is not present at the moment which will surely be ground waiting as FSB is also going to implement the rules that they have recommended in some manner as well.

![YpihifdXP4WNbGMdjw7e3DuhJWBvCw4SfuLZsrnJYHEpsqZFkiGGNCPw1UZ4H1wvzmUvwcegqkZVAdt9qVmGE41nTYYK92i8xX6isdAd5to1hCj7THTMS2jkvrEJtzpogUAA8T4GPoTX7gm52SAK7B92Dn1fU9pM1zSwXgj3K8Bx.png](https://files.peakd.com/file/peakd-hive/sayu907/23xANvq26DEvnvdMMJ7c7kibabE32TxNrKA2amLXyTpdnLeRBpDK2Sc1NK4ZcNp6W73fq.png)

![sayu footer.gif](https://files.peakd.com/file/peakd-hive/sayu907/23u6UgAuJBjUHvpiVY1v6GydSvLrRoGiD46Ntp2yqL2yHckmCBzuNrqUxjL9ongRgobSM.gif)

Find me on :
[3Speak](https://3speak.tv/user/sayu907)
[LeoFinance](https://leofinance.io/profile/sayu907/blog)
[DTube](https://d.tube/#!/c/dtube.sayu907)
[Instagram](https://www.instagram.com/iam.sayanta/)
[Twitter](https://twitter.com/sayu907)



Cheers !
Sayu

Posted Using [LeoFinance Alpha](https://leofinance.io/@sayu907/uks-cryptocurrency-conundrum-balancing-regulation-and-innovation-uk-doesnt-classify-crypto-assets-as-gambling)