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The Financial Conduct Authority of the UK plans to regulate crypto under a “tough” new financial services law in order to “detoxify” crypto to protect consumers. Specifically, the country will implement those new regulatory standards in new financial services laws to be implemented this year. Around 85% of crypto firms that applied for operation permission in the UK were denied due to the FCA compliance standards. Specifically, the regulator noted that some firms requesting permission were evasive, boasting conflicts of interest as well as a lack of safeguards. <img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/640978d9508545fa9b034ad959fbe892.png" /> #KOMnews #kommunitas #uk #fca #cryptoregulation #regulation #cryptofirm #cryptonews #cryptoupdate

UK Plans to Regulate Crypto Under “Tough” New Financial Services Law

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