Revolut welcomes ‘onerous’ UK rulebook that threatens crypto companies – DL News
- The UK outlined new rules for the crypto industry.
- Some say it’s burdensome.
- Incumbent fintechs like Revolut may get a competitive advantage.
The UK’s sweeping new crypto regulations may be burdensome, but incumbent fintech companies like Revolut are cheering them on.
The rules, which are said to align more with the US than the EU’s Markets in Crypto-Assets framework, are seen to be favouring companies that already operate in heavily regulated environments.
“The UK framework appears to be significantly more complex and onerous than MiCA,” Konstantinos Adamos, Group Lead Legal Counsel for Crypto at Revolut, told DL News.
“Market players that have no previous experience of operating in such a highly regulated environment will…
