The U.K.’s Payments Systems Regulator is exploring how it can regulate the crypto sector, starting by looking at distributed ledger technology, said Nick Davey, a payment specialist at the agency.

The PSR, a fairly new regulator that became fully operational in 2015, would be authorized to regulate cryptocurrencies that are used for making payments if a proposed crypto-regulation bill called the Financial Services and Markets Bill becomes law. The bill is now being considered by Parliament.

(by Camomile Shumba)