Members of Parliament have urged the UK government to treat investing in cryptocurrencies such as Bitcoin as a form of gambling due to the potential for significant value fluctuations and the risk of losing one's entire investment. The Treasury Select Committee found that the characteristics of cryptocurrency investment closely resemble gambling and criticised plans for the Royal Mint to create non-fungible tokens (NFTs). However, the Treasury rejected calls for cryptocurrency to be regulated as gambling, stating that financial services regulation is more appropriate. A trade association for the cryptocurrency industry strongly disputed the committee's findings. The committee cited research showing that 40% of new Bitcoin users are men under 35, a demographic commonly associated with high-risk behaviour. A gambling helpline charity reported that it has received more than 300 inquiries related to cryptocurrency investment over the past two years, while a former gambling addict who lost £150,000 investing in crypto supports the committee's approach.

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