A little over a month since legislators in the United Kingdom branded the domestic cryptocurrency market the ‘Wild West’ and called for its regulation, experts have warned that such a move could have disastrous consequences for the fintech market in the world’s fifth largest economy.
According to a report authored by the British Business Federation Authority (BBFA) and cryptocurrency exchange firm TodaQ among others, the efforts by the MPs to introduce measures that would require the country’s financial regulator, the Financial Conduct Authority (FCA), to police the cryptocurrency sector could result in other assets such as bonds, shares and stocks being penalized too.
https://www.ccn.com/cryptocurrency-regulations-threatens-uks-fintech-hub-status-report/
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