UK crypto firms are growing increasingly weary of dealing with the country’s Financial Conduct Authority (FCA) and its complex rules. That’s according to a survey out today from SmartSearch, seen by BeInCrypto.
The research, conducted by Censuswide between May 26 and July 2, 2023, involved 500 industry compliance decision-makers. Over a quarter of the respondents question the FCA’s involvement in crypto products. Three-quarters have faced challenges with their FCA registration, and 37% have felt the need for additional guidance during the process.
The FCA Has Cracked Down on UK Crypto ATMs
Interestingly, over-the-counter (OTC) traders showed more openness to the FCA’s involvement compared to crypto exchanges. Is the FCA painting with too broad a brush? Trying to ram square pegs into round holes?
The FCA is the regulator of financial services and markets in the UK. Currently, businesses operating as exchanges, crypto ATM…
