I was kinda surprised when I read the news from Financial Times that the cross-section of the UK's MPs that seems to see it as needless to regulate cryptocurrency suggested that it should be viewed as "a form of gambling" and be regulated as such.
Why you are surprised? I think it isn't a new issue, we already discussed about this many times.
People who view it as a gambling form, must be not familiar with crypto. They don't know how to deal with the risk in crypto.
Without relying on my own understanding of "gambling," I quickly used the help of the Oxford Dictionary through Google, and it states;
1. Play games of chance for money; bet.
2. Take risky action in the hope of a desired result.
The second one seems to fit crypto best, so it's clear they know what they are saying.
Now, do you agree that crypto should be seen as a form of gambling? And if this eventually comes through, what should we expect as the constraints it might still bring to the crypto space?
No business has no risk, including in crypto. We al understand crypto has a high risk but we know how to deal with the risk. Knowledge and experience are 2 things that every people must have to deal with crypto risks. So, it is different with playing gambling that has no way to deal with the risk (possibility of losses). For example when you play slots, he chance to win is purely to rely on the luck.