Cryptographic companies are preparing for closer monitoring of the United Kingdom as FCA integration with financial markets | Article

Trying to set up rules to supervise an industry that has developed largely outside the regulation is not without serious challenges. But the last consultation of the United Kingdom Financial Conduct Authority (FCA) aims to attract the opinions of the industry to the way in which certain key aspects of cryptographic trading should be regulated before the legislation planned due to the entry into force next year.

The FCA and the Bank of England were previously distrusted to apparently approve an industry that presents a high risk for consumers. But the popularity of cryptocurrency, coupled with the fact that the United Kingdom wants to attract investments in innovative growth industries, means that it is preferable to be on board with the trend and to regulate activity than to ignore it.

About 12% of adults in the United Kingdom have cryptocurrency, according to FCA research.