United Kingdom Financial Adviser Submits Petition For Crypto Activities Ban

United Kingdom Financial Adviser Submits Petition For Crypto Activities Ban

Digital assets have convinced people over the years of their potential, as we have seen various uses rise from their usage. Despite the assets bringing it’s huge potential to the table, several entities are still not comfortable.

Without a clear doubt, some still hold a strong belief that digital assets are only used for malicious and illegal activities. Hence people should not be allowed to engage in it.

These same words were echoed by a financial advisor in the United Kingdom after he said that the government should prohibit citizens of the region from trading the assets citing its negative toll on the people.

The financial advisor is concerned about the growing fraud rate of crypto

According to various sayings, people have a penchant for doing evil, but they need a tool that will push them to carry it out. This and more were stated in the petition that was forwarded to the United Kingdom government to order the halt of all activities involving crypto assets. Backing his claim up, the petitioner, Neil Liversidge, mentioned that crypto had been a menace since it was created and introduced to the broader population and had begun to rob people morally.

The details of the petition mentioned that Neil wants the government in the region to axe all forms of payments using various digital assets that are being adopted by all entities across the country and wants regulatory bodies such as FCA and PRA to order various crypto-related entities to stop their use and trade of the digital assets.

He mentioned that if the government acts swiftly to make this happen, not only will their interest be on spending the country’s currency, their belief will also start to wane as regards the digital assets. He mentioned that if this is achieved, then the people would no longer see crypto as an asset worthy of keeping in their portfolio, a move that would see digital assets go extinct.

Neil Liversidge wants several criminal networks destroyed with the new move

Neil has opted to take this approach to stop crypto-related users and entities because of what he considered “hazardous mining.” He said that the mining activities of miners across the country are taking their toll on the environment, and the government must stop their activities immediately. Even though some 110 people have believed in Neil’s charge to stop digital asset trading, he still has a huge mountain to climb as the minimum amount of signatures for his petition to be considered is 100,000 signatures.

He also mentioned that since the advent of crypto, fraud in the United Kingdom has been skyrocketing, and this move could see the fraud rate in the country reduce and hit a new low in the process. He also mentioned that criminals are now taking advantage of trading crypto’s anonymity to evade authorities as the recent ban would officially mean that their network of operation is scattered. Advising people who trade crypto in the region, Neil mentioned that they should start selling their holding so they won’t be caught off guard when the law comes into play.