United Kingdom wants to stop cryptocurrency fraud
Through the Financial Conduct Authority (FCA), the European region will seek to end fraudulent activities related to digital currency
The United Kingdom, through the Financial Conduct Authority (FCA) issued a statement where it stressed that it is working to curb the fraudulent activities that are observed in the cryptocurrency market.
Its director, Christopher Woolard, was in charge of giving these announcements. On the one hand, he indicated that the state institution intends to guarantee that all illicit activities related to cryptocurrencies do not continue in the United Kingdom.
On the other hand, the director of the FCA does not consider digital assets to be a threat to the country’s financial stability.
“The FCA, HMT and the Bank of England are taking a series of measures in the coming months to address these damages and promote a future beneficial innovation”, explained Woolard regarding the growth of cryptocurrencies in the last three years.
The United Kingdom remained for some time behind in comparison with other countries in Europe, with respect to the use of measures and regulations for cryptocurrencies. Despite this, the director assured that the treasury team is preparing one of the most complete and detailed responses from around the world to deal with the use of digital assets for illicit activities.
K. Tovar
Source: FCA
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