breaking news FCA ready to regulate crypto but cost concerns remain - Business News lastminute news
FCA President Charles Randall said Sentinel's success in regulating speculative crypto will be assessed. Photo: Toby Melville/Reuters
FCA President Charles Randall said Sentinel’s success in regulating speculative crypto will be assessed. Photo: Toby Melville/Reuters
The Financial Conduct Authority (FCA) has said that it is ready to regulate the crypto market in the UK, but it remains skeptical as to who will pay the high cost of this additional regulation.
The FCA’s president, Charles Randall, said in a speech at Queen Mary University of London that the FCA’s success in regulating speculative crypto will be judged and questions need to be answered.
“Should people be encouraged to believe that these are investments when they have no underlying value? When the price of bitcoin could easily halve within six months, as has been the case recently, and Some other speculative crypto token gone to zero?