Co-CEO of Kraken Arjun Sethi don’t hold back. He criticizes the UK’s Financial Conduct Authority for its crypto rules which he says are killing user experience. In a recent interview, Sethi compared the risk warnings displayed on all UK crypto sites on those scary labels on cigarette boxes.
His point is quite clear. Opening any crypto website in the UK, including Kraken’s, feels like being warned that what you’re about to do could destroy your life. THE FCA introduced these rules in 2023, requiring platforms to display large warnings and requiring users to complete hoops, such as answering questionnaires, before they can invest.
Sethi says UK users miss out on more than 75% of the products US customers can access. Additional measures and restrictions do not make things safer; they just make everything slower and more frustrating. He believes the warnings are so aggressive that they discourage people from investing.
The FCA doesn’t see it that way. They say that if some people decide crypto isn’t for them after reading the warnings, that’s exactly what’s supposed to happen. But Sethi and other crypto executives say the UK is falling behind while trying too hard to protect people.
Conclusion
Kraken’s criticism highlights growing tensions between crypto companies and UK regulators, with executives saying overly cautious policies hinder innovation and limit consumer choice in digital finance.
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