The regulations will help boost collaboration between fintech companies and banks as well as with the government to remove barriers that help them grow domestically and internationally. The initiatives will help manage risks of use of cryptocurrencies and harness any benefits
Read more here: U.K. launches cryptocurrency task forceI think its needed seriously if there is any Money involved it should treat with caution because Money is HOT and need to be regulated I see this as positive outcome of todays fast pacing Cryptocurrency Revolution throughout the World.