The Financial Conduct Authority has called for “an open debate about risk, mitigation and the limits of regulation” for cryptocurrency.
At an event in London today (25 April), Sarah Pritchard, executive director of markets and international at the FCA, honed in on the risks of the rise of crypto, and pointed to the failure of FTX in November 2022 as a warning of the dangers. She said: "The take up of crypto is on the rise year-on-year. That means more consumers need protecting from the potential harms. And with more consumers and investors piling in, the risks also grow exponentially in our interconnected systems. "That is why things have to change. As crypto matures as an industry, so must the firms that offer it and...
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