Protecting Crypto Users Is More Important Than Faster UK Registration: FCA Executive
Summary
The UK's Financial Conduct Authority (FCA) will not compromise on trust to speed up the registration process for crypto companies, according to Sarah Pritchard, the FCA's executive director for markets and international. The FCA has been processing registrations for crypto firms since 2020, with over 300 firms applying and only 45 succeeding. Crypto exchange Gemini, payments platform Revolut, and asset manager Fidelity Digital Assets are among the registered companies. Pritchard stated that while speeding up the process may appear beneficial, it could harm consumers and leave the market open to abuse. She emphasized that the success of crypto firms relies on trust being built and maintained.
