The UK's National Health Service recently stated that cryptocurrency addiction has become a public health issue in the country.
According to the head of the National Health Service, Amanda Pritchard, there is a growing need for "intervention" in society as young people are increasingly exposed to and obsessed with #cryptocurrency trading. Speaking at the Confed Expo in Manchester, attended by NHS leaders, Pritchard called on British MPs to take action in response to the trend.
Pritchard wondered if the public was simply used to "gathering information" on the NHS while the methods used to drive people mad were becoming more sophisticated, in particular pointing to the rise of the unregulated cryptocurrency market as a new opportunity for young people to become addicted to drugs.
"As we learned from our staff when we attended a national gambling clinic earlier this year, the unregulated cryptocurrency market is providing young people with increasing opportunities to become addicted to gambling," Pritchard said.
Pritchard then elaborated further on the issue, noting that addiction to investing "in something that has no fixed value" had become a public health problem and that the institution's health services were not as good as they should have been.
Are we going to fight the problem of their provenance or accept that the National Health Service will become a costly safety net?
The UK government is taking steps to regulate the crypto industry: last year, on May 6, King Charles introduced legislation to bring #cryptocurrencies under the same rules as other financial services, but between 2023 and 2027, the Treasury rejected a proposal by lawmakers to regulate retail cryptocurrency transactions in the same way as gambling, preferring instead to regulate them as financial services.
In recent news, Crypto Briefing reports that cryptocurrency executives are lobbying their interests in the UK to influence lawmakers to clarify industry regulations.
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