Christopher Woolard of the United Kingdom (UK) Financial Conduct Authority (FCA) has indicated that UK regulators are planning a “comprehensive response” to the illicit adoption of crypto assets amid increased adoption among local businesses and consumers. Despite announcing increased regulatory action regarding illegal use of crypto, Woolard stated he does not view crypto assets as a threat to financial stability.
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UK Regulatory Institutions Collaborate to Assess Crypto
Speaking at the Regulation of Cryptocurrencies event in London, Christopher Woolard, the executive director of strategy and competition at the FCA, stated that the regulator is planning to take significant action to crack down on the illicit use of cryptocurrencies.
