According to the National Audit Office, the U.K. Financial Conduct Authority (FCA) has taken almost three years to tackle illegal activities associated with cryptocurrency ATMs across the country. The FCA’s delay in addressing this issue has raised concerns about the effectiveness of their regulatory oversight in the rapidly evolving crypto market. The National Audit Office’s findings highlight the need for more efficient and proactive measures to combat illicit activities in the cryptocurrency sector. It is crucial for regulatory authorities to stay ahead of emerging risks and ensure the integrity and security of financial systems, including crypto ATMs.
HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinUK FCA crypto skills gap is causing slow enforcement