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On 3 December, we made a submission in response to the UK government’s economic and finance ministry’s .
In an effort to make Britain the global centre of financial innovation, the HM Treasury’s consultation focussed the function of digital currencies as a payment method, rather than as a speculative investment. As published on , the call for information is led by their desire to promote innovation and competition in the banking sector, learn more about digital currencies and hear the public’s views on regulation.
As suggested, our submission responded to the 13 questions posed by the HM Treasury around benefits, risks and regulation of digital currencies. Here are some excerpts:
“In communities such as Bitcoin these risks are actively tackled by researchers, developers, bounty hunters and ‘white hat’ hackers who endeavour to educate users, fix code vulnerabilities and document incidents of fraud and theft. In this sense the community, like any open source community, is already self-policing.”
If you have a moment, read the submission in full . In November, we also made a submission to the Australian Senate, which can be found .
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