UK financial watchdog to crypto industry: ‘Let’s work together’

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

A British financial regulator is open to suggestions from crypto firms as it moves forward with regulations on the digital asset industry.

Pritchard mentioned a warning issued by the FCA to crypto investors a week before the FTX collapse in early November but added, “we have always been open to innovation,” stating:

“Crypto assets and blockchain offers opportunities for more efficient and innovative financial services and products.” The move is in stark contrast to the approach across the pond in the United States. Those in the crypto industry in America claim local financial regulators arethe crypto sector with enforcement actions as opposed to developing meaningful regulations in collaboration with industry leaders.

Pritchard noted the FCA’s responsibilities are limited to making sure that crypto firms that operate in the U.K. comply with Anti-Money Laundering and Counter-Terrorist Financing legislation.Related:

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Pritchard mentioned a warning issued by the FCA to crypto investors a week before the FTX collapse in early November but added, “we have always been open to innovation.' The move is in stark contrast to the approach across the pond in the United States.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines