The UK’s FCA Wants to Cooperate with Crypto Companies to Develop Regulatory Framework
At the City Week conference in London on April 25, Sarah Pritchard, Executive Director of the Financial Conduct Authority (FCA), spoke of the need for cooperation between crypto companies and the regulator in creating an effective regulatory framework for the industry.
She referred to crypto as a “one-time symbol of alternative rebellion,” but noted that it has become more mainstream.
Pritchard encouraged early engagement to create regulations that benefit all involved, and she highlighted the FCA’s openness to innovation, emphasizing the potential of crypto assets and blockchain technology to create more efficient and innovative financial services and products.
In stark contrast to the approach of US financial regulators, who have been accused of attempting to stifle the crypto sector with enforcement actions rather than meaningful regulations, the FCA’s stance is one of cooperation and support.
