UK MPs have urged the government to treat retail investment in cryptocurrencies such as Bitcoin as a form of gambling. This has to be the most clear headed thinking on cryptocurrencies I've seen.
Like gambling, cryptocurrency trading and investing can be addictive, MPs concluded. And while the underlying blockchain technology could benefit the wider financial services industry, the process of betting on the volatile price of unbacked assets such as bitcoin could lead consumers to lose life-changing sums of cash.
The report said that regulating cryptocurrencies as gambling would be consistent with the government’s principle of “same risk, same regulatory outcome”.
https://www.bbc.com/news/technology-65610851?