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Australia's crypto investors are currently sidelined due to the lack of clear regulations. According to data from Swyftx, between 2 to 6 million potential investors, including newbies, are waiting for the government to establish proper regulatory frameworks before entering the market. In the UK, the Financial Conduct Authority (FCA) is facing criticism from CryptoUK, a trade association, for its stringent registration process, which is seen as a deterrent to crypto businesses. Only 4 out of 35 applications were approved in the past year, highlighting the challenges faced by firms in complying with the FCA's requirements.
Trade association @UKFtweets said it completed the experimental phase of a tokenization and central bank digital currency (CBDC) platform. @camomileshumba reports https://t.co/scwDUFSfCo
UK FINANCE REGULATOR FCA LABELED A ‘DETERRENT’ TO CRYPTO INNOVATION CryptoUK claims the UK��s Financial Conduct Authority (FCA) is deterring crypto businesses due to its lengthy registration process. Only 4 out of 35 applications were approved in the past year, with firms citing… https://t.co/0XM2yUiEd2
UK’S FCA ACCUSED OF DETERRING CRYPTO INDUSTRY GROWTH CryptoUK, Trade association forcrypto industry of UK, claims, the FCA’s rigorous registration process is dissuading crypto firms from setting up in the country. Since the UK mandated crypto firms to register with the FCA in… https://t.co/cKnpISXtvr
