Will Bitcoin ruin you? The British regulator is (again) attacking cryptocurrencies

Let them rather take care of their pound – While the UK Treasuries threaten economic stability of the country, the Financial Conduct Authority (FCA) can’t think of anything better to do than go after Bitcoin (BTC) and decentralized cryptocurrencies. Printing billions of pounds out of nowhere is no problem. On the other hand, to be independent and censorship resistant seems like a crime.

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You will “lose everything” with Bitcoin and cryptos

There is almost no longer any need to specify the extent to which the Financial Conduct Authoritythe British financial policeman, don’t like bitcoin and his ilk. The CEO of this supervisory authority, Nikhil Rathiso do not deprive yourself – as soon as he gets the chance – from criticizing.

During a statement as of October 10, 2022, which glorifies FCA’s annual “achievements”, Nikhil Rathi congratulates himself as well as the following:

“(…) We have continued to warn clients that they must be prepared to lose all their money if they place it in crypto-assets. »

Similarly, the leader claims that his organization has “recognized the potential of blockchain technology”. But, he especially compliments himself that the FCA applied “strictly” new standards relating to money laundering (AML) to cryptocurrencies

Result of this “rigour” (translate: regulatory choking), many English crypto-companies had to put the key under the door. Or continue their activities without being duly registered with the FCA, thus with a sword of Damocles above the head. I have to say that even giants among cryptocurrency exchange platforms, like FTX, have mesh from with the English financial authority. Bitcoin is a target to be shot down.

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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