New Consultation Paper on Crypto Released by UK’s FCA

A fresh consultation paper on cryptocurrencies has been released by the United Kingdom Financial Conduct Authority (FCA) which aims to clear the uncertainties on regulatory scop of the emerging industry. The Head of Business Development from Broctagon Fintech Group responded, “The guidance outlines that cryptos have no intrinsic value as they are not guaranteed by an underlying asset. Although not a ban, it’s a move in that direction. This lack of enthusiasm is shared by several countries.”

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