Web Watchdog Cracks Down on Crypto Firms

New FCA Regulations Target Compliance Failures

Firms Accused of Pushing British Crypto Abroad

The UK’s Financial Conduct Authority (FCA) has come under fire for its handling of the cryptocurrency sector. Critics accuse the watchdog of driving British crypto firms abroad with its heavy-handed approach to regulation.

The FCA recently introduced new rules aimed at improving compliance within the crypto industry. However, some firms argue that the regulations are too onerous and are stifling innovation.

The FCA is not the only regulator taking a tough stance on crypto. In the US, the Securities and Exchange Commission (SEC) has also ramped up its enforcement efforts against crypto firms.

As regulators around the world crack down on the crypto sector, firms are facing increasing pressure to comply with new rules and regulations.