The UK's cryptocurrency ambitions are thwarted: regulatory challenges need to be resolved

The UK's ambition to become a global cryptocurrency center is facing severe challenges, with the strict supervision and lengthy approval process of its Financial Conduct Authority (FCA) becoming the main obstacle. According to a report by Reed Smith, the number of crypto companies applying to register in the UK has dropped by more than half in the past three years, and has hit a low point this year, with only 29 applications received and an average approval cycle of 459 days. Some cases have even been fruitless for more than two years.

This situation has led to the withdrawal of many crypto companies and turned to countries and regions with more efficient approval, exacerbating market doubts about the UK's attractiveness. Large exchanges are also exploring a more relaxed regulatory environment, fearing that the UK's traditional regulatory framework will inhibit industry innovation and weaken its international competitiveness.

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Although the FCA claims that this move is aimed at protecting the market and consumers, the industry generally calls for reform to balance regulation and market development needs. Strengthening cooperation and dialogue between regulators, policymakers and industry leaders has become the key to promoting the healthy development of the UK's cryptocurrency industry. Only in this way can we ensure compliance while leaving enough room for market development and flexibly respond to future changes. #Telegram创始人获保释 #以太坊基金会 #新币挖矿DOGS #FCA #非农就业数据即将公布