The new chair of the UK's Financial Conduct Authority has hinted at a push for tighter regulation of the cryptocurrency sector.
The United Kingdom's Financial Conduct Authority’s recently appointed chair has presented an unfriendly attitude toward cryptocurrencies in a cross-party Treasury select committee meeting.
“Our experience to date of [crypto] platforms, whether FTX or others, is that they are deliberately evasive, they are a method by which money laundering happens in size.” The incoming FCA chair’s comments are seemingly at odds with the regulatory body’s efforts to provide a fostering environment for the cryptocurrency industry in the United Kingdom.
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