UK's FCA Prioritizes Trust Over Speed for Crypto Registrations
The UK's Financial Conduct Authority (FCA) has stated that it will prioritize trust over speed when it comes to registering crypto companies. Despite complaints from the industry that the FCA takes too long to approve crypto applications, the regulator has only approved 45 firms in four years. Sarah Pritchard, the FCA's executive director for markets and international, emphasized that a focus on numbers could undermine trust and reputation. While companies like Gemini, Revolut, and Fidelity Digital Assets have successfully registered, the FCA's process can take a while, and the regulator is committed to maintaining high standards to prevent market abuse and maintain consumer confidence.
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