CryptoUK, an advocacy group, has criticized the recent regulation of the cryptocurrency sector in the UK, arguing that it should be regulated as gambling. The group has released a statement opposing the Treasury Select Committee's findings, which they labeled as "unhelpful, false, fundamentally flawed, and unsubstantiated." The Committee equated cryptocurrency investment and trading to gambling, highlighting its potential for addiction and urging the government to cease spending taxpayers' funds on virtual assets until their benefits can be substantiated. This has sparked a heated debate surrounding the future of cryptocurrency in the UK.

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