Yesterday, the Chair of the UK’s Financial Conduct Authority (FCA), Charles Randell, gave a speech about the potential to regulate cryptocurrencies beyond the FCA’s current responsibilities, which mainly relate to ensuring anti-money laundering (AML) compliance.
Even for AML, he noted that many who applied for a license didn’t have adequate systems and withdrew their applications.
He was underwhelmed that Kim Kardashian used her name to promote Ethereum Max, a token that could easily be confused with Ethereum. Two issues need to be addressed in the short term, and one of these is how crypto-assets are promoted.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
