FCA’s Head: British Authorities Cannot Protect Crypto Investors

This week, FCA Director General Nikhil Rathi has reaffirmed the agency’s hardline stance on digital currencies, emphasizing during a speech at the Ministry of Finance that the state does not have the authority to guarantee the full safety of crypto investors.

Rathi has warned that no matter what is done to regulate the market, it will not be possible to create a framework that will be able to level the risks associated with volatility and potential loss of investments.

The UK is currently debating a bill that would regulate the cryptocurrency sector, and if it passes in April, then the FCA will be the main body responsible for supervising the blockchain industry.

Rathi has stated:

“Whatever we do in terms of regulation, we won’t be able to create a system that will completely protect consumers from losses, and we won’t be able to help people claiming compensation.”