UK’s Financial Regulator Defends Strict Crypto Rules
The UK’s Financial Conduct Authority (FCA) has defended its strict registration requirements for cryptocurrency firms in response to recent criticism.
The UK’s Financial Conduct Authority (FCA) has defended its strict registration requirements for cryptocurrency firms in response to recent criticism.
In an effort to assist the crypto industry in complying with the UK’s Travel Rule, CryptoUK, a self-regulatory trade association, has released a comprehensive guide.
The UK’s Financial Conduct Authority has issued a warning to unregistered cryptocurrency firms for their lack of interaction with the regulator in preparation for the new financial promotions regime.
The UK Treasury is aiming to have the law regulating cryptocurrencies in place before the end of 2023.
This week, FCA Director General Nikhil Rathi has reaffirmed the agency’s hardline stance on digital currencies.
Investments in the UK blockchain and fintech industry decreased by almost 50% last year.
After the crash of crypto exchange FTX, the regulator has decided to accelerate the implementation of a mechanism to protect cryptocurrency investors.
"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution." - Satoshi Nakamoto (Bitcoin White Paper)
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