UK has ceded crypto hub ground to US amid ‘heavy-handed’ FCA oversight, Consensys says — TradingView News
At Zebu Live in London this week, the regulatory environment for crypto in the UK was a hot topic, with many in the industry frustrated over the current lack of a clear framework and pace of progress from regulators.
Consensys Senior Counsel and Director of Global Regulatory Matters Bill Hughes was particularly scathing, telling The Block it continues to be concerned that the Financial Conduct Authority will be “heavy-handed” in its oversight of the space.
“We think that has cost the UK to the extent that it has lost its position to the U.S. as a crypto hub,” he said. “Deciding that everything in crypto is a financial instrument subject to all the applicable rules really hampers UK competitiveness.”
Consensys is a blockchain software firm…
