FCA’s Adaptation of Crypto Rules to Industry-Specific Risks and Criticism From Kraken’s co-CEO
UK: FCA’s adaptation of crypto rules to industry-specific risks and criticism from Kraken’s co-CEO, with concerns about slowed executions due to risk warnings and questionnaires. Active crypto adaptation, including the recently proposed Sterling-Stablecoins regime, continues, but it appears not fully coordinated and unified.
More About FCA Rules and the Subject of Criticism From Kraken’s Co-CEO
FCA rejects a mechanical transfer of traditional rules into crypto because such an approach ignores the specifics of permissionless infrastructure, where any participant can connect to the network without an intermediary. In the consumer protection framework, the regulator allows the absence of a cooling-off period after purchasing…
