UK FCA executive: Protecting cryptocurrency users is more important than speeding up UK registration

PANews, April 18, CoinDesk reported that the British Financial Conduct Authority (FCA) will not sacrifice trust in order to register cryptocurrency companies faster, a senior executive of the British Financial Conduct Authority (FCA) said on Thursday. s concern. At the TheCityUK conference, industry complained that regulators took too long to register crypto companies. Sarah Pritchard, executive director of markets and international at the FCA, responded: "Simply focusing on numbers can damage trust and reputation."

Pritchard said: “Lower standards could leave our markets vulnerable to abuse by those seeking to launder money, thereby damaging market integrity and confidence in financial markets. Instead, we are looking at the longer term. The success of cryptocurrencies and any crypto company Foundational success relies on building and maintaining trust.”