UK wants to regulate all cryptos including Bitcoin as gambling, wouldn’t it be fair if it was taxed as gambling too?

So UK FCA and Treasury Committee wants all cryptocurrency including Bitcoin to be regulated as gambling. I personally don’t really have a problem with this as cryptocurrencies, even Bitcoin, have high risks.

My question is then this: if cryptocurrency is regulated as gambling, then surely it should be taxed as gambling too? Winnings from gambling is not subject to taxation at all here in the UK. So I believe by regulating crypto as gambling, the government would have to tax it as such too and that could actually bring a lot of Bitcoin trading into the UK and would actually benefit the UK crypto industry as a whole. What does everyone here think?

Edit: I have been informed that the Treasury has rejected the proposal to regulate cryptocurrencies as gambling since it would potentially create overlapping in jurisdictions between the FCA and Gambling Commission and also create discrepancy in regulations with international crypto regulation eg EU MiCA.

Still, it was interesting to think about whether they would’ve made crypto gains tax free if they regulated it as gambling.