{"id":140306,"date":"2024-10-22T18:30:07","date_gmt":"2024-10-22T15:30:07","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140306"},"modified":"2024-10-22T16:16:00","modified_gmt":"2024-10-22T13:16:00","slug":"u-k-stands-firm-on-strict-crypto-regulations-amid-innovation-concerns","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/u-k-stands-firm-on-strict-crypto-regulations-amid-innovation-concerns\/","title":{"rendered":"U.K. Stands Firm on Strict Crypto Regulations Amid Innovation Concerns"},"content":{"rendered":"<p>Val Smith, head of payments and digital assets at the FCA, <strong><a href=\"https:\/\/www.fca.org.uk\/news\/blogs\/cryptoasset-registrations-building-strong-foundations\">emphasized<\/a> <\/strong>the importance of maintaining rigorous standards to protect consumers and the integrity of financial markets.<\/p>\n<p>She cautioned that lowering standards could jeopardize safety and allow illegal activities, such as terrorism financing.<\/p>\n<p>Smith acknowledged criticism regarding the low number of registered crypto firms but clarified that applications are evaluated carefully, not rejected arbitrarily.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/india-considers-ban-on-private-cryptocurrencies\/\" title=\"India Considers Ban on Private Cryptocurrencies\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/india-crypto-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">India Considers Ban on Private Cryptocurrencies<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Despite concerns from the crypto community about the lengthy registration process\u2014only four of 35 applications were approved in the past year\u2014Smith stated the FCA is committed to supporting businesses through pre-application consultations.<\/p>\n<p>Additionally, the FCA and Bank of England have launched a sandbox initiative to explore the use of digital ledger technology in financial securities management.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK\u2019s Financial Conduct Authority (FCA) has defended its strict cryptocurrency regulations in response to claims they may hinder innovation.<\/p>\n","protected":false},"author":3,"featured_media":38252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25],"tags":[],"class_list":["post-140306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.K. Stands Firm on Strict Crypto Regulations Amid Innovation Concerns<\/title>\n<meta name=\"description\" content=\"The UK\u2019s Financial Conduct Authority (FCA) has defended its strict cryptocurrency regulations in response to claims they may hinder ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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