The crypto exchange FTX collapse that occurred last week not only shattered the investors’ sentiment on cryptocurrencies but also alerted legal actors such as FCA (Financial Conduct Authority) against crypto companies. First, the market saw Terra collapse, and then the FTX saga disrupting the market in the same year shocked regulators worldwide.
Hence, considering the crypto market’s higher volatility caused due to the FTX collapse, one of the UK’s financial watchdogs, FCA, urges legislators to support the agency’s unfavored decision to ban crypto platforms.
Moreover, the authority suggested not approving the licenses of such crypto companies like FTX, which was the reason behind billions of losses in the crypto market.
In its thrive to keep crypto trading transparent in the UK, the authority has been bearing criticism for being a hurdle for innovative developments in the country.
FCA has rejected 85% of applications, or the candidates themselves withdrew them. As a result, it
We współpracy z: https://bitcoinist.com/fca-urges-to-have-more-support-for-banning/
