Effectiveness of Crypto Industry Enforcement

Questions have been raised by the National Audit Office in the United Kingdom about the effectiveness of the Financial Conduct Authority (#FCA) to regulate the #crypto industry.

Its most recent report on the topic, “Financial services regulation: adapting to change”, claims that the FCA is slow to respond to issues surrounding potential fraud, including taking around three years to crack down on illegal crypto ATMs.

This report highlights the importance of personnel alongside the necessary skills to create effective enforcement of regulations. The path toward a more regulated future requires a promotion of roles alongside clear regulation.

Gibraltar’s DLT regulatory framework, established in 2018, aims to strike the balance between regulatory actions and enforcement. With strong and clear regulations such as the Gibraltar DLT framework, crypto can continue to thrive, protect consumers from bad actors, and respond effectively to market events

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