Stay updated with breaking news from Crypto Sector. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The finance ministry said it would move ahead as proposed in an earlier public consultation, requiring firms undertaking cryptoasset activities to be authorised by the Financial Conduct Authority as Britain introduces rules similar to those already approved in the European Union.
Crypto industry sees string of layoffs, including Ledger, Moonbirds, and Yield Protocol
Attracting compliance workers is harder than ever for crypto firms—just when the industry needs them the most.
Being a fast maturing sector in its foundational building time, the crypto industry is currently grappling with a lack of consistent regulatory frameworks worldwide. Different countries have adopted varying approaches, ranging from outright bans to embracing cryptocurrencies as legitimate financial assets. This regulatory divergence creates uncertainty for investors and hampers the growth of the industry.
According to the crypto investment firm Galaxy Digital, crypto and blockchain startups raised less money across the last three quarters combined than they did in just Q2 of 2022.