Coin Gabbar Token

<h2 id="header-0">The United Kingdom&#39;s financial regulator, the Financial Conduct Authority (FCA), aims to collaborate with crypto firms to establish a regulatory framework for the industry.</h2>At London&#39;s City Week conference, FCA Executive Director Sarah Pritchard urged the industry to contribute to the development of regulations, stating that it is crucial to get the future regulatory regime for crypto assets right.Pritchard acknowledged that crypto was once viewed as a symbol of alternative rebellion, but has now become more widespread. She also recognized that early engagement with industry players could lead to regulations that benefit everyone and allow firms to be prepared for changes.Although the FCA&#39;s current responsibilities are limited to ensuring compliance with anti-money laundering and counter-terrorism financing legislation, Pritchard believes that <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-should-be-regulated-further-in-uk-says-uks-upcoming-fca" rel="noopener noreferrer nofollow">regulations will be inevitable </a>once the UK government legislates.According to Pritchard, the FCA has supported 41 crypto companies of all sizes, but almost three-quarters of 195 overseas firm registrations were either rejected or withdrawn. Pritchard mentioned that the FCA will implement legislation governing crypto promotions and advertising high-risk investments, with heavy penalties for noncompliance.Pritchard also highlighted the FCA&#39;s partnership with the government in developing proposals to <a href="https://www.coingabbar.com/en/crypto-blogs-details/what-are-stablecoins-and-how-do-they-function" rel="noopener noreferrer nofollow">regulate stablecoins</a>, noting that the regulator has been pushing for the Financial Services and Markets Act to include crypto regulations since its amendment in October 2021.In contrast to the US, where crypto industry insiders believe regulators are stifling the sector through enforcement actions instead of collaborating with industry leaders on meaningful regulations, the FCA&#39;s approach is more cooperative, seeking to engage with the industry to create effective regulations for the benefit of all stakeholders.

FCA Executive Director Calls for Cooperation on Crypto Regulations in the UK

目录

Coingabbar

发布于 2023年4月27日的其他文章

Massive Capital Flight From US Banks Is ‘Extremely Concerning,’ Hurts Main Street: Senator Ted Cruz

Seoul prosecutors allege $100 million in Swiss bank account linked to Terra co-founder Do Kwon

Crypto Community Accuses Gensler of Flip-Flopping on Crypto Regulation

Biggest Dogecoin Holder Elon Musk Strikes Again: Loads Up Over 215 Million DOGE in a Single Trans...

WEF Whitepaper: Blockchain Key to Fight Climate Change

U.S. and South Korea join forces to make Forex market stable

订阅我们免费的电子期刊，获取每日最新加密领域动态！