UK NAO Criticizes FCA Over Delayed Action on Crypto Sector
Balita ng Ethereum ng Bitcoin The NAO asserts that the lack of dedicated crypto staff is to blame. The FCA took longer than anticipated to register crypto-asset enterprises as per NAO. The United Kingdom‘s National Audit Office (NAO) has voiced doubts over the FCA’s ability to effectively oversee the cryptocurrency market. According to the NAOs latest report, “Financial services regulation: adapting to change,” the FCA is allegedly dragging its feet when it comes to responding to and prosecuting illegal activity inside the cryptocurrency sector. Lack of Dedicated Crypto Staff According to the NAO, the FCA waited almost three years before taking action against the illicit operators of cryptocurrency ATMs. According to reports from July, 26 cryptocurrency ATMs were taken down in the UK by the FCA as part of a coordinated probe. However, according to the NAO: Bagamat ang FCA ay nag-aatas sa mga crypto-asset firms na sumunod sa mga regulasyon laban sa money laundering mula noong Enero 2020, at sinimulan ang gawaing pangangasiwa kabilang ang pakikipag-ugnayan sa mga hindi rehistradong kumpanya, hindi ito nagsimulang magsagawa ng pagkilos laban sa mga ilegal na operator ng mga crypto ATM hanggang Pebrero 2023. The NAO asserts that the lack of dedicated crypto staff is to blame for the FCAs sluggish processing