UK FCA executive: user protection will not be ignored in order to speed up the registration of crypto projects
2024-04-18 15:23:00
A senior executive at the UK's Financial Conduct Authority (FCA) said on Thursday that the regulator would not sacrifice its focus on trust in order to register cryptocurrency companies more quickly. Responding to complaints from the crypto industry that it takes too long for UK regulators to register crypto companies, Sarah Pritchard, executive director of markets and international at the FCA, said: "A simple focus on numbers could damage trust and reputation, and lower standards could leave crypto markets vulnerable to abuse by those seeking to launder money, thereby damaging market integrity and confidence in financial marekts. Instead, one should take the longer view. The success of cryptocurrencies, and the success of any crypto company foundation, depends on the establishment and maintenance of trust."
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